According to ChainCatcher, citing sources, a large-scale pilot involving 100,000 participants for tokenized deposits will take place later this year, as reported by The Korea Times. The publication states that deposit tokens will "function similarly to vouchers," aligning with previously announced plans.

A year ago, the Bank of Korea announced its intention to issue a wholesale central bank digital currency (wCBDC) to facilitate interbank settlement for tokenized deposits by banks. The pilot, involving up to 100,000 participants, is set to commence in September or October of this year.

In June, two government agencies announced funding for the voucher project being developed by the central bank, allowing deposit tokens to be used for welfare, culture, education, and other services. However, the current report specifies that the vouchers in the pilot will be used for purchasing goods at convenience stores.

A banking official told The Korea Times, "While the timeline seems slightly delayed compared to our initial expectations, we are striving to launch the CBDC test involving 100,000 participants using deposit tokens by the end of this year, which would be a global milestone."