The CBDC project led by the Bank of Korea has been suspended, shifting focus to the Korean won stablecoin

ChainCatcher news, according to Maeil Business Newspaper, the CBDC project led by the Bank of Korea has been suspended before the second round of testing. The decision to suspend the CBDC project was made due to an increase in complaints from banks participating in the pilot project and growing discussions about introducing a Korean won stablecoin.

Currently, 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 project to lead the issuance of stablecoins in the banking sector, while Busan Bank, Gyeongnam Bank, and Toss Bank are also considering joining.