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South Korea’s 7-Eleven stores will participate in the test phase of the CBDC project at Korea Bank. To this end, the retail seller said that by June, all its stores throughout the country will accept the payments in CBDCS.
From April 1 to June 30, many stores in South Korea will participate in the CBDC test. However, at the present time, only 7-Eleven He agreed to be a test store for the “Hangang” project of the Korean Bank (BOK), a real experience with digital currency transactions.
During the test time, it is said that the store chain provides a 10 % discount on all elements that were purchased using CBDC. According to Moon Dae-Woo, responsible for the 7-Eleven Digital Innovation Department, the company is trying to use new digital technologies in its daily operations.
The moon said Dai Woo, “We are making multi -faceted efforts to operate stores efficiently using digital technologies from the next generation […]We have allowed us to participate in the use of the use of digital currency to accelerate our digital transformation. “
Like other digital assets, CBDCS provides easier and more modern payment options. However, governments and CBDCS control, unlike Bitcoin and other privacy -focused symbols that provide some lack of identification.
South Korea was the center of encrypted currencies, especially because its currency has lost its value over the years. The United States, under Trump, has already ignored CBDCS for Crypto.
100,000 participants to test payments
Korea Bank announced for the first time the plan in November 2023. The statement stated that 100,000 CBDCs will be tested.
CBDC was released by the Bank of Korea, the Financial Services Committee (FSC), and the financial supervision service (FSS) last year. The test was supposed to start in the fourth quarter of 2024. However, it has been late.
The government said that anyone aged 19 years old or older has a bank savings account that he could apply. There were 100,000 registration as a maximum. Some banks involved in CBDC tests are KB, Koomin, Shinhan, Hana, Woori, Nonghyup, IBK and Busan.
During the test period, people can convert their banking deposits into symbols that are saved in the distributive professor’s book. These coins deserve the same Korean victory.
Participants can use their CBDCs in places other than Eleven, such as cafes, groceries, K-POP stores, and delivery services. During the test, users can convert up to 5 million WNA ($ 3,416) at one time.
BOK will also work with Excination Korea to add its new digital currency to a carbon emissions simulation system. This will test if the supply transactions are possible for payment transactions.
The dependency dependence in South Korea increases
According to reports, nearly a third of the South Koreans invested in Bitcoin (BTC) and other cryptocurrencies.
according to Data 16.29 million people were issued by the South Korean government, who have accounts on Upbit, Bithumb, Coinone, Korbit and GoPax in late February of this year. These are the five best encryption exchanges in the country.
This is not all. According to a recent study he conducted AtmosSouth Korea 10 worldwide was ranked with 52.2, 13.6 % ownership, 167 % adoption growth, 104,000 per month searches, and 2 Bitcoin ATMS.
Industry officials expect that South Korea will soon get 20 million encryption investors. One of the officials said, “Some believe that the encryption market has reached a saturation point, but there is still an endless possibility to grow compared to the ripe stock market.”
This is possible, given the South Korea Financial Services Committee, she said that the country will start a pilot program in the second half of 2025 that would allow 3,500 companies to buy an encrypted currency for commercial reasons and financial reasons.
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