{"id":104141,"date":"2026-07-30T11:21:10","date_gmt":"2026-07-30T11:21:10","guid":{"rendered":"https:\/\/www.europesays.com\/korea\/104141\/"},"modified":"2026-07-30T11:21:10","modified_gmt":"2026-07-30T11:21:10","slug":"cross-border-money-in-80-seconds-bok-succeeds-in-tokenized-payment-trial","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/korea\/104141\/","title":{"rendered":"Cross-Border Money in 80 Seconds: BOK Succeeds in Tokenized Payment Trial"},"content":{"rendered":"<p><img alt=\"Shin Hyun-song, Governor of the Bank of Korea, speaks at a press briefing on the monetary policy direction of the Monetary Policy Board held at the Bank of Korea in Jung-gu, Seoul, on the morning of the 16th. Joint Press Corps - Seoul Economic Daily Finance News from South Korea\" title=\"Cross-Border Money in 80 Seconds: BOK Succeeds in Tokenized Payment Trial\" fetchpriority=\"high\" width=\"1200\" height=\"675\" decoding=\"async\" data-nimg=\"1\" class=\"w-full h-auto rounded-sm\" style=\"color:transparent;object-fit:contain;object-position:center\" src=\"https:\/\/www.europesays.com\/korea\/wp-content\/uploads\/2026\/07\/ams.001.photo.202607161205254096876329_P1.jpg\"\/>Shin Hyun-song, Governor of the Bank of Korea, speaks at a press briefing on the monetary policy direction of the Monetary Policy Board held at the Bank of Korea in Jung-gu, Seoul, on the morning of the 16th. Joint Press Corps<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">The Bank of Korea (BOK) has succeeded in a live transaction trial that processed cross-border remittances by converting central bank reserves and bank deposits into digital tokens. From the transfer instruction to final settlement, the process took an average of 1 minute and 20 seconds.<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">The BOK said on the 30th that key functions of the platform operated stably even in an environment similar to actual operations, during the live transaction test of &#8220;Project Agora&#8221; promoted by the Bank for International Settlements (BIS) and others.<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">Project Agora is a project that uses tokenized central bank reserves and bank deposits to process cross-border payments quickly and transparently. A total of 28 central banks and global financial institutions participated in the test, including KB Kookmin, NH NongHyup, Shinhan, Woori and Hana banks in Korea.<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">A total of 30 transactions were conducted across 17 scenarios, including corporate remittances, interbank transfers and foreign exchange payment-versus-payment settlement, using six currencies such as the Korean won, U.S. dollar and euro. The overall transaction volume was approximately 800,000 Swiss francs.<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">Even in a situation where the platform was not fully connected to existing payment networks and bank computer systems, the progress and processing paths of transactions could be verified in real time, and final settlement was completed in an average of 1 minute and 20 seconds.<\/p>\n<p class=\"mb-4 text-[var(--color-text)] leading-relaxed\">The BOK also tested a won-denominated interbank transfer worth 20 million won with NongHyup and Shinhan banks. It examined the entire process of issuing tokenized reserves, transferring them between the two banks and then repaying them.<\/p>\n","protected":false},"excerpt":{"rendered":"Shin Hyun-song, Governor of the Bank of Korea, speaks at a press briefing on the monetary policy direction&hellip;\n","protected":false},"author":2,"featured_media":104142,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[456],"tags":[845,10423,846,1339,53798,38866,53799,17710,53797],"class_list":["post-104141","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bank-of-korea","tag-bank-of-korea","tag-bis","tag-bok","tag-cbdc","tag-central-bank-reserves","tag-cross-border-settlement","tag-digital-tokens","tag-project-agora","tag-tokenized-payment"],"_links":{"self":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/104141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/comments?post=104141"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/posts\/104141\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media\/104142"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/media?parent=104141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/categories?post=104141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/korea\/wp-json\/wp\/v2\/tags?post=104141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}