Bank of Korea's central bank-led CBDC project suspends, focusing on South Korea's won stablecoin

According to Foresight News, according to Maeil Business Newpaper, the Bank of Korea's CBDC project was suspended before the second round of testing. The decision was made to suspend the CBDC project due to increased complaints from banks participating in the pilot project and increased discussions on the introduction of Korean won stablecoins. Currently, South Korean banks KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK Company, iM Bank, Suhyup and K-Bank are participating in the open blockchain and DIDIA projects leading the issuance of stablecoins in the banking sector, while Busan Bank, Gyeongnam Bank and Toss Bank are also considering joining.
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