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South Korea Pivots from CBDC to Bank-Issued Stablecoins – Here’s Why It Matters
South Korea Pivots from CBDC to Bank-Issued Stablecoins – Here’s Why It Matters
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South Korea just slammed the brakes on its central bank digital currency (CBDC) ambitions—choosing instead to throw weight behind private bank-issued stablecoins. The move signals a seismic shift in how regulators view the future of money.
Why the sudden U-turn? Observers point to three factors: speed, scalability, and—let’s be honest—lobbying power. While CBDCs crawl through bureaucratic molasses, commercial banks are already sprinting with blockchain rails.
The irony? After years of ‘stablecoin skepticism,’ Seoul now bets on the very institutions that brought us 2008. But hey, when has finance ever let irony get in the way of profit?
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