BOK-Financial Services Commission-MIT Signs Digital Currency Business Agreement

The Bank of Korea has decided to join hands with the Financial Services Commission and the Ministry of Science and ICT to verify the possibility of using digital currency.

To this end, the Bank of Korea signed a business agreement to use digital currency with the governor of the Bank of Korea, the chairman of the Financial Services Commission and the Minister of Science and ICT in attendance.

Accordingly, the Bank of Korea plans to verify whether various types of voucher functions such as education, culture, and welfare can be given to digital currencies in the future.

The Bank of Korea is working on developing a system in preparation for the introduction of a digital currency issued by the central bank.