The South Korean central bank is the latest in the list of national banks to reveal its intentions towards central bank crypto (CBDC).
South Korea Joins Crypto Research Race
According to local media, the Bank of Korea has begun hiring crypto-asset experts signaling that the central bank may begin developing its own CBDC. It added that successful candidates will head research on blockchain solutions and digital payment platforms.
The BoK has yet to confirm that it will be launching a CBDC but the likelihood is strong as China is already way ahead, and Japan has also entered the research phase.
Bank governor Lee Joo-Yeol had previously told executives that turning away from the change could risk losing the trust of the nation. Nobody wants to be left behind as Asia continues to lead the way in digital payment innovation.
The Bank of…