Media: Bank of Korea receives three bids to participate in CBDC launch

The Bank of Korea announced preliminary results of selecting a technical partner to launch the national digital currency (CBDC), according to Yonhap.

According to it, applications to participate in the pilot were submitted by Ground X (a subsidiary of the tech giant Kakao), the SK Group conglomerate, and Line Plus. On July 9 the latter представила a blockchain platform optimized for CBDC launch.

The regulator announced the start of the partner selection in late May. The final decision at the Bank of Korea will be made in August.

Earlier, BIS experts recommended that global regulators devote more attention the use of CBDC in cross-border transfers than to domestic applications.

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