South Korea to Test Digital Currency Usage with 100,000 Citizens
• South Korea's central bank will invite 100,000 citizens to test CBDC purchases from Sept-Oct 2024 • Participants can use CBDC only for payments, not storing, exchanging, or sending to others • Goal is to evaluate feasibility and effectiveness of issuing and distributing currency • Bank will collaborate with stock exchange to test CBDC for carbon emissions trading • Announcement coincided with visit from Bank for International Settlements manager