South Korea's central bank launches second phase of Hanjiang digital currency pilot program, with two new banks joining

The Financial Commission of South Korea announced the launch of the second phase of the Hanjiang Plan, a pilot program for the central bank's digital currency CBDC. Gyeongnam Bank and iM Bank have joined, bringing the number of participating banks to nine. The second phase of South Korea's CBDC test aims to expand the user base and application scenarios of deposit tokens. The maximum number of electronic wallets has been increased from 100000 to 500000, and the scope of use has been expanded to small and medium-sized merchants and large enterprises. New wallet transfer functions and national treasury fund payment pilot have been added. The maximum holding limit for a single wallet has been increased from 1 million Korean won to 10 million Korean won, and the cumulative holding limit has been increased from 5 million Korean won to 100 million Korean won. （EToday）