Bank of Korea May Launch Second Phase of CBDC Pilot Project Hangang in September
Quick Look
- The Bank of Korea is reportedly planning to launch the second phase of its wholesale central bank digital currency (CBDC) pilot, Project Hangang, as early as September.
- This phase will expand participation to nine banks, introduce new payment features, and test government subsidy disbursements using tokenized bank deposits.
AI-generated summary
Why It Matters
The Bank of Korea is preparing to launch the second phase of its wholesale central bank digital currency (CBDC) pilot, Project Hangang, as early as September. This follows the first phase conducted from April to June 2025, which focused on payment infrastructure.
The Bank of Korea may launch the second phase of Project Hangang, its wholesale central bank digital currency (CBDC) pilot, as early as September, according to Yonhap News.
The next stage expands participation to nine banks from seven, introduces new payment features and tests government subsidy disbursements through tokenized bank deposits. Regional lenders Kyongnam Bank and iM Bank will join the existing group of participants.
Project Hangang uses a blockchain-based wholesale CBDC issued by the central bank as the settlement asset for deposit tokens issued by commercial banks. Consumers can then use the bank-issued tokens for everyday payments.
The first phase focused on payment infrastructure. It was conducted from April to June 2025, attracting about 81,000 participants who completed 114,880 transactions using deposit tokens.
The second phase will explore commercialization, including by adding peer-to-peer transfers, biometric authentication and new automated deposit token features.
What to Watch
AI outlook — possibilities, not facts
The Bank of Korea will launch the second phase of Project Hangang.
Likely · Within months
Open Questions
- What are the specific new payment features beyond peer-to-peer transfers and biometric authentication?
- What were the key findings or challenges from the first phase of Project Hangang?
- What is the exact timeline for the full commercialization of the CBDC?
