Several private banks in South Korea are studying the potential of tokenized deposits technology, an alternative both to private stablecoins and central bank digital currencies (CBDCs). According to the report from Maeli Business News Korea, Hana Bank and Woori Bank, both private enterprises with headquarters in Seoul, showed interest in so-called “certificate of deposit” tokens (CDs). Essentially CDs are tokenized bank deposits, put on the blockchain. They can replace customary notes and deposits without disrupting the existing banking system. And, of course, CDs require identity verification of the same standards…
Korean banks research stablecoin, CBDC alternative
