#SouthKoreaPreparesSecondCBDCPhase ๐ฐ๐ท Everyone is talking about the CBDC...
At the same time, South Korea is quietly testing something that could be even more important. ๐
On 15/7, South Korea approved Phase 2 of the Hangang project.
The cap for holders was raised to 500,000 won, and the overall cap reached 10 million won.
It looks like a simple CBDC update.
But this isnโt the most interesting part.
๐คฃ A plot twist from the heart of the scene:...
This isnโt the kind of CBDC for individuals that many people thought.
What South Korea is actually testing is ยซdeposit tokensยป issued by commercial banks.
And this time, these tokens can be transferred rather than staying only in the wallet as happened in Phase 1.
In other words...
The Bank of Korea isnโt just testing a digital currency.
Itโs testing a new payment model, where bank deposits are tokenized and operate on a CBDC infrastructure for devices/wholesale.
๐ Tradersโ perspective:
Maybe in the future, competition wonโt just be:
CBDC vs. Stablecoin.
Rather:
Private Stablecoin ๐ Deposit tokens issued by banks.
If this model works efficiently, itโs very likely that many other countries will choose to tokenize bank deposits instead of issuing a CBDC for individuals across the entire population.
๐ค In your opinion, over the next 5โ10 years, will the digital payments system be led by USDT/USDC, by CBDCs, or by tokenized bank deposits?
Please continue following
#CBDCs #SouthKorean $USDT
$USDC $ETH