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South Korea Halts CBDC Pilot to Prioritize Won-Backed Stablecoin Development
South Korea Halts CBDC Pilot to Prioritize Won-Backed Stablecoin Development
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BTCCSquare news:
The Bank of Korea has suspended its central bank digital currency pilot program, marking a strategic pivot toward private-sector stablecoin initiatives. Seven participating banks were notified of the pause, which postpones testing originally slated for late 2025.
Financial institutions reportedly favored this shift, citing concerns over CBDC implementation costs and uncertain commercialization pathways. The MOVE aligns with broader regulatory momentum toward stablecoin frameworks, including campaign promises by political figures to enable regulated digital asset alternatives.
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