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KB Kookmin Bank joins deposit token-based payment infrastructure expansion project

KB Kookmin Bank will build deposit token payment infrastructure using existing payment networks after being selected for a blockchain innovation project run by the Ministry of Science and ICT and KISA. The project, led by the Korea Financial Telecommunications and Clearings Institute with support from the Ministry of Economy and Finance and the Bank of Korea, aims to create private-sector infrastructure based on a CBDC deposit-token test. The bank plans cooperation with PG and VAN firms and related tech development.