NHN KCP will join Shinhan Bank in the second phase of the Bank of Korea\'s central bank digital currency pilot, Project Hangang. The companies plan to expand deposit token payment testing to convenience stores, hypermarkets and online malls using NHN KCP\'s online and offline merchant network. Merchants can add deposit token payments through existing NHN KCP infrastructure without replacing terminals or overhauling systems, as Shinhan Bank rolls out services and collects usage data.

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.