South Korea Considers Central Bank Token Integration into Public Blockchain

South Korea’s central bank is exploring innovative ways to incorporate central bank-issued deposit tokens within public blockchain systems, as Vice Governor Lee Jong-ryeol announced at the ‘Blockchain Leaders Club’ event on May 27. Lee defined these tokens as stablecoins issued by the central bank in a digital currency framework. Furthermore, he revealed that the country is exploring establishing a system where central bank tokens could coexist alongside stablecoins issued by private entities.