{"id":28914,"date":"2025-05-28T05:31:31","date_gmt":"2025-05-28T05:31:31","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=28914"},"modified":"2025-05-28T05:31:31","modified_gmt":"2025-05-28T05:31:31","slug":"bank-of-korea-dives-into-crypto-deposit-tokens-head-to-public-chains","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=28914","title":{"rendered":"Bank Of Korea Dives Into Crypto: Deposit Tokens Head To Public Chains"},"content":{"rendered":"
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The Bank of Korea<\/a> is moving ahead with plans to tie its own digital tokens to the wider crypto world. It wants to link a central\u2010bank deposit token to public blockchain networks. This push could reshape how money moves in South Korea and beyond.<\/p>\n

Public Blockchain Connectivity<\/h2>\n

According to Deputy Governor Lee Jong-ryeol, the Bank of Korea is \u201cconsidering a plan to link\u201d its deposit tokens with public blockchain systems<\/a>. He calls these tokens a \u201ctype of stablecoin,\u201d backed by the central bank\u2019s digital currency framework.<\/p>\n

Lee made these remarks at the Blockchain Leaders Club event on Tuesday. He sees a chance for banks, businesses, and even individuals to use a state-issued token on networks like Ethereum or others.<\/p>\n

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The Bank of Korea plans to integrate deposit tokens on public #blockchain<\/a> networks.<\/p>\n

Deputy Governor Lee Jong-ryeol outlined the bank\u2019s vision at the \u2018Blockchain Leaders Club\u2019 event on Tuesday. pic.twitter.com\/z2fnkSeGMx<\/a><\/p>\n

\u2014 Sachi (@sachi_gkp) May 27, 2025<\/a><\/p>\n<\/blockquote>\n

Stablecoin Outflows Spark Concern<\/h2>\n

Based on reports, stablecoins accounted for about 47% of South Korea\u2019s crypto outflows in Q1. That equals nearly 27 trillion won (USD $19.1 billion).<\/p>\n

Traders in Seoul often use USDT and USDC because they hold steady in value. Lee warned that relying on foreign stablecoins<\/a> could hurt the won\u2019s role in the global market.<\/p>\n

He said it could threaten monetary sovereignty, spur financial instability, and even help money laundering.<\/p>\n

<\/p>\n

Rising Global Stablecoin Market<\/p>\n

Stablecoins are flourishing on the global scene. Their entire market worth surpassed $230 billion in March 2025. The total stablecoin market value as of this writing is a little over $247 billion<\/a>, up $3.537 billion in the previous week.<\/p>\n

Those figures show how fast private issuers are growing. Lee noted that South Korea must act before foreign coins dominate local trading.<\/p>\n

\"\"<\/p>\n

Crypto Industry And Political Push<\/p>\n

Major exchanges like Bithumb, Coinone, and Korbit were at Tuesday\u2019s event alongside regulators. Their presence underlines how crypto firms want a say in rules.<\/p>\n

Meanwhile, opposition leader Lee Jae-myung has promised a won-backed stablecoin if he wins the presidency. He argues it could cut the 56.8 trillion won ($40.8 billion) crypto outflow and make local trading easier.<\/p>\n

Other lawmakers, such as Min Byoung-dug of the Democratic Party, say South Korea must \u201ctake the lead in institutionalizing stablecoins\u201d before US-pegged tokens take over.<\/p>\n

Next Steps For Digital Won<\/p>\n

Additional tests are planned by the Bank of Korea this year. It will look at how to keep tokens secure, maintain the privacy of users and comply with anti-money laundering regulations.<\/p>\n

If those pilots go well, a business pilot could arrive by 2026. That would mean a huge shift in how money works in South Korea, possibly leading other countries to follow suit.<\/p>\n

Featured image from Bloomberg, chart from TradingView<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Bank of Korea is moving ahead with plans to tie its own digital tokens to the wider crypto world. It wants to link a central\u2010bank deposit token to public blockchain networks. This push could reshape how money moves in South Korea and beyond. Public Blockchain Connectivity According to Deputy Governor Lee Jong-ryeol, the Bank […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-28914","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28914","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28914"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/28914\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}