South Korea to trial CBDC with 100,000 users and 7 banks

The Bank of Korea will initiate its CBDC pilot in April, involving 100,000 users. This initiative will test digital payments and features a limit of 1 million won for holdings, with a maximum transaction cap of 5 million won.

If successful, the pilot could lead to a nationwide CBDC rollout, enabling real-time settlements and lower transaction fees. Participants will make payments through deposit tokens at several major retailers.