Tagged: bank of korea

September 21, 2026 @ 9:13 pm By Omar Faridi  |  

South Korea’s central bank has begun testing a new around-the-clock settlement system designed to make the won easier for overseas investors to use. The Bank of Korea started the trial of its international won wire network on Monday morning, working with four major domestic lenders:… Read More

April 13, 2026 @ 8:14 am By Omar Faridi  |  

South Korea’s central bank has called for the introduction of circuit-breaker systems in the virtual asset market to enhance safeguards against extreme volatility and operational failures. The recommendation appears in the Bank of Korea’s latest Payment and Settlement Trends report, released on April 13, 2026…. Read More

April 5, 2026 @ 12:19 am By Michael Wong  |  

Bank Indonesia and the Bank of Korea have launched a cross-border QR payment link that allows Indonesians to pay in South Korea using QRIS through their domestic mobile apps, in the latest push by Asian central banks to build faster and cheaper regional payment networks…. Read More

November 21, 2020 @ 3:45 pm By Omar Faridi  |  

South Korea’s Financial Services Commission (FSC) has proposed several legislative updates that could potentially give it more control over payment settlements in the Fintech sector. The Bank of Korea (BOK), the nation’s central bank, has stated that these proposed guidelines would create redundant regulations. As… Read More

October 11, 2020 @ 4:00 pm By Omar Faridi  |  

The Bank of Korea (BOK), the reserve bank of the Republic of Korea and issuer of South Korean won, is reportedly planning to issue and circulate a central bank digital currency (CBDC) by next year. As first reported by the Korean Times, the BOK will… Read More

June 16, 2020 @ 11:30 pm By Omar Faridi  |  

South Korea’s reserve bank has reportedly appointed a six-member legal advisory team to look into the feasibility and potential benefits of issuing a central bank digital currency (CBDC). The Korean central bank’s advisory group includes three university professors, two legal experts, and a senior official… Read More

February 8, 2019 @ 1:44 am By Cali Haan  |  

Bankers at Korea’s central bank, the Bank of Korea, have issued one of the most decisive warnings against the creation of a central bank-backed cryptocurrency so far, The Korea Times reports. International Monetary Fund head Christine Lagarde called last year for an “even-handed approach” to… Read More