A number of non-public banks in South Korea are exploring the potential of token deposit know-how, a substitute for non-public stablecoins and central financial institution digital currencies (CBDCs).
In accordance Based on a report from Maeli Enterprise Information Korea, Hana Financial institution and Woori Financial institution – two non-public corporations headquartered in Seoul – have expressed curiosity in so-called “certificates of deposit” (CD) tokens. CDs are tokenized financial institution deposits positioned on the blockchain, changing common banknotes and deposits with out disrupting the present banking system. CDs additionally require identification verification to the identical requirements as any conventional banking service.
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