The real transaction testing of CBDC by Korea's IBK Industrial Bank is expected to begin in November this year

ChainCatcher news, according to News 1, the on-site testing of the Central Bank Digital Currency (CBDC) by South Korea's IBK Industrial Bank is expected to begin in November, with up to 100,000 members of the public participating in the test. The testing will last for about 5 months and is expected to conclude in March 2025.

IBK Industrial Bank has recently started the vendor selection process for the development of the CBDC real transaction testing system. The budget allocated for system development is 757 million won (545,000 USD).