South Korea's Central Bank to Test Wholesale CBDCs in New Partnership - Here's What You Need to Know

South Korea's central bank, the Bank of Korea (BoK), is set to embark on a wholesale central bank digital currency (CBDC) test in collaboration with the Bank for International Settlements (BIS) and other key institutions, the BOK announced on Wednesday. The pilot project aims to assess the feasibility of building a future monetary system for South Korea based on wholesale CBDCs....