Expanding to Civilian Payments, South Korea Launches Deposit Token Payment Infrastructure Project

Odaily News The Korea Internet & Security Agency (KISA) and the Ministry of Science and ICT have launched the "Deposit Token Payment Infrastructure Expansion Project," extending the outcomes of Korea's CBDC pilot, "Project Hangang," to the civilian payment sector. Directed by the Korea Financial Telecommunications & Clearings Institute, the project involves the participation of 9 banks, 8 payment gateways, and 2 large-scale demand-side entities, with a total budget of 9.6 billion KRW, aiming to reduce payment processing fees for small and micro merchants. The pro

ject leverages existing payment systems rather than building new infrastructure. Users complete payments through their bank deposit token wallets, and merchants do not need to replace their terminals. The government also plans to apply deposit tokens to a pilot for official business travel expenses and explore a treasury fund management model linked with dBrain.