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The Central Bank of South Korea plans to issue deposit-type tokens on a public Blockchain network.
According to Deep Tide TechFlow news, on May 27, News1 reported that the Bank of Korea (BOK) is exploring the integration of Central Bank deposit-type tokens with public Blockchain networks. Lee Jong-ryeol, the Deputy Governor of the Bank of Korea, elaborated on the bank's vision at the "Blockchain Leaders Club" event on Tuesday.
Lee stated that this type of state-backed deposit token is a "stablecoin" that will be issued within the Central Bank digital currency framework. Data shows that in the first quarter of 2025, stablecoins accounted for 47% of South Korea's cryptocurrency outflow, with dollar-pegged USDT and USDC accounting for 26.87 trillion Korean won (approximately 19.1 billion dollars).
It is worth noting that South Korean opposition leader Lee Jae-myung previously proposed issuing a Korean won-backed stablecoin to reduce dependence on foreign private stablecoins and curb the outflow of cryptocurrency funds amounting to 56.8 trillion won.