Bank of Korea completes Agora project tokenization reserve fund payment test

According to South Korean media reports, Korean banks have participated in the Agora project of the Bank for International Settlements (BIS), using tokenized reserve funds to complete global payment settlement testing. A total of 28 institutions participated in the testing, covering the Korean won, US dollar, euro, pound sterling, Swiss franc, and Japanese yen. Domestic participating institutions in South Korea include KB National Bank, Agricultural Cooperative Bank, Shinhan Bank, Youli Bank, and Hana Bank. Participating institutions conducted live trading tests worth approximately 800000 Swiss francs for 17 trading scenarios. The Bank of Korea plans to conduct more real trading tests.