Bank of Korea Prepares for Deposit Token Commercialization

The project uses wholesale central bank digital currency infrastructure to enable commercial banks to issue digital deposits. Following a successful initial pilot focused on retail payments, the second phase aims to integrate person-to-person transfers, expanded merchant networks, and business-to-business treasury payments. This expansion includes a specific use case involving the distribution of government subsidies for electric vehicle charging infrastructure.

Commercial lenders have signaled that this transition requires significant resource commitment, moving well beyond the scope of the first pilot. Banks are currently pushing for a defined long-term roadmap, citing the need for robust anti-money laundering systems, fraud detection, and specialized technology budgets. In response, the Bank of Korea has adjusted its timeline and begun providing consulting support to align these institutional requirements with the project’s official rollout goals. This effort runs parallel to other local industry initiatives, such as the recent partnership between Toss Bank and the Solana Foundation, which explores stablecoin-based cross-border settlements.