Why Three Tech Behemoths Are Vying to Test Korea's CBDC

South Korean tech giants have lodged three bids to become the first private firms ever to pilot the Bank of Korea (BOK)'s central bank digital currency (CBDC) prototype. As previously reported, the BOK will pick a winner from three consortiums and solo bids submitted earlier this month by subsidiaries of the chat app giant Kakao, the search engine powerhouse Naver