BOK, BoE expand cooperation on tokenization projects
The Bank of Korea (BOK) said Tuesday it is expanding cooperation with the Bank of England (BoE) on tokenization projects. Sarah Breeden, the BoE's deputy governor for financial stability, visited the BOK on Monday and exchanged views with BOK officials on innovations in payment and settlement, according to the BOK. Breeden and other BoE officials shared updates on tokenization projects, including…
The Bank of Korea (BOK) announced on Tuesday that it is broadening its collaboration with the Bank of England (BoE) regarding tokenization initiatives, according to official sources. On Monday, Sarah Breeden, the BoE's deputy governor for financial stability, journeyed to the BOK to engage in discussions with Korean financial experts about advancements in payment and settlement systems.
Breeden and other representatives from the BoE shared updates on various tokenization endeavors, such as the global Project Agora and Korea's own Project Hangang, with their BOK counterparts. Project Agora, spearheaded by the Bank for International Settlements, investigates potential enhancements to the global financial system through tokenized commercial bank deposits and tokenized wholesale central bank money, with a specific focus on optimizing cross-border transactions.
Meanwhile, Project Hangang is a blockchain-based pilot project initiated by the BOK to explore the feasibility of digitizing financial instruments.
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- BOK, BoE expand cooperation on tokenization projects en.yna.co.kr
- BOK, BoE expand cooperation on tokenization projects koreatimes.co.kr
