đ¨Bank Of Korea Dives Into Crypto: Deposit Tokens Head To Public Chainsđ¨
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The Bank of Korea is moving ahead with plans to tie its own digital tokens to the wider crypto world. It wants to link a centralâbank deposit token to public blockchain networks. This push could reshape how money moves in South Korea and beyond.
According to Deputy Governor Lee Jong-ryeol, the Bank of Korea is âconsidering a plan to linkâ its deposit tokens with public blockchain systems. He calls these tokens a âtype of stablecoin,â backed by the central bankâs digital currency framework.
Lee made these remarks at the Blockchain Leaders Club event on Tuesday. He sees a chance for banks, businesses, and even individuals to use a state-issued token on networks like Ethereum or others.
Traders in Seoul often use USDT and USDC because they hold steady in value. Lee warned that relying on foreign stablecoins could hurt the wonâs role in the global market.
He said it could threaten monetary sovereignty, spur financial instability, and even help money laundering.
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