SEOUL, South Korea—The Bank of Korea is gearing up for a pilot of its central bank digital currency, and it has chosen three regions to be part of the historic test.
The selected regions are Jeju, Busan, and Incheon, excluding the country’s capital, Seoul, The Crypto Times reported.
“The bank plans to experiment with payments and distribution at a public level in one of these regions while also securing franchises that can accept payments using the CBDC,” the report stated.
The Crypto Times said an official from the bank emphasized that the CBDC electronic wallet app will not only be accessible to local residents but also to civilians, including tourists.
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