Svmuu News: The Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT have launched the “Deposit Token Payment Infrastructure Expansion Project,” which will extend the results of South Korea’s CBDC pilot, “Project Hangang,” to the private payment sector. Overseen by the Korea Financial Telecommunications & Clearings Institute (KFTC), the project involves nine banks, eight payment gateways, and two major merchants, with a total budget of 9.6 billion won. It aims to reduce payment processing fees for small and micro merchants.
The project utilizes existing payment systems rather than building new infrastructure; users complete payments through bank deposit token wallets, and merchants do not need to replace their terminals. The government also plans to apply deposit tokens to a pilot program for official travel expenses and explore a treasury fund management model linked to dBrain.