Bank of Korea Launches Phase 2 of Project Han River Tokenised Deposit Pilot
Key points
- The Bank of Korea has moved Project Han River, its tokenised deposit pilot, into a second phase.
- Scope, participant roster and completion timeline for Phase 2 have not been disclosed.
- Phase 1 established technical feasibility of deposit tokens operating alongside Bank of Korea infrastructure; Phase 2 likely extends use cases, counterparties or settlement scenarios.
- The progression signals sustained central bank interest in deposit tokenisation as a wholesale settlement layer and reinforces Korea as a regional testbed whose outputs may inform Hong Kong, Singapore and Japanese programmes.
The Bank of Korea has moved Project Han River, its tokenised deposit pilot, into a second phase. The central bank has not disclosed the scope of Phase 2, the participant roster, or the timeline for completion.
Phase 1 established the technical feasibility of deposit tokens operating alongside the Bank of Korea’s infrastructure. Phase 2 likely extends the use cases, counterparty set, or settlement scenarios, though the exact parameter changes remain unconfirmed until the Bank of Korea publishes programme details.
The progression signals sustained central bank interest in deposit tokenisation as a wholesale settlement layer, reinforcing the Korean market as a regional testbed. Phase 2 outputs are the place to look for technical and regulatory precedent that may inform Hong Kong, Singapore, and Japanese programmes.
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