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The Bank of Korea (BOK), is launching a pilot project in collaboration with the Financial Services Commission (FSC) and the Financial Supervisory Service (FSS) to explore the implementation of a central bank digital currency (CBDC). The primary objective of this pilot is to assess the practical aspects of a wholesale CBDC network in cooperation with commercial banks and the public. CBDC transfer mechanism between banks | Source: The Bank of Korea You might also like: South Korean regulators focus on OTC crypto market The central bank won’t introduce a retail CBDC to avoid bank disintermediation. Instead, they’ll research the currency’s technology, while the government looks for innovative ways to get people interested in cryptocurrencies. “Koreans are widely known for their active involvement in crypto trading. Furthermore, there exists an active interest and significant investment in the field of blockchain technology from both large scale e...

The National Bank of Georgia (NGB) is develop ing the digital GEL and is searching for a suitable partner .  NGB plans to launch a Limited Access Live Pilot Environment through various use cases to test the technology capabilities and potential application areas of the Central Bank Digital Currency (CBDC) system.  You might also like: Tether signs MOU with Georgia for bitcoin, web3, and P2P development After extensive research, NGB has shortlisted nine competing companies to work with the bank to develop the digital GEL. These companies include AUGENTIC GmbH, Bitt Inc., Broxus Holdings Ltd., Currency Network Ltd., DCM Corp Limited, eCurrency Mint Inc., FARI Solutions Ltd., Ripple Labs, Inc., and Sovereign Wallet Co., Ltd. Once the current selection process is complete, NGB will choose only one of the nine shortlisted companies to work on develop ing the digital GEL and the Limited Access Live Pilot Environment.  Georgia hosts crypto entrepreneurs and ...