South Korean Banks Consider Participation in Digital Currency Subsidy Test

According to Foresight News, six major South Korean banks, including KB Kookmin, Shinhan, Hana, Woori, NH Nonghyup, and the Industrial Bank of Korea, have expressed interest in participating in a test related to treasury subsidies. The Bank of Korea's Digital Currency Office has been reaching out to virtual asset managers at these banks since late August to gauge their willingness to participate. The upcoming test aims to evaluate the government's ability to distribute digital currency to subsidy recipients. It will also assess the use of current treasury payments or government-backed vouchers in this process.