Central bank money
Bank of Korea: a quarter of treasury payments via Hangang by 2030
APACSource: Bank of Korea
- The Bank of Korea published on 31 July 2026 the subtitled transcript of Governor Shin Hyun Song's presentation at the ECB Forum on Central Banking 2026, "A unified ledger in practice: lessons from Project Hangang".
- He said the first phase was a live trial with seven commercial banks, about 80,000 users and around 12,000 merchants, that the government plans to use the platform to disburse a quarter of all central government treasury payments by 2030, starting with a subsidy fund for new EV charging stations, and that reserve requirements, deposit insurance and prudential regulation all carry over to tokenized deposits.
- He also said he supports the introduction of a stablecoin framework in Korea, but that tokenization is best done using central bank money.
Why it matters
A government target to route a quarter of central government treasury payments through bank deposit tokens by 2030 makes public-sector disbursement the main volume driver for Korean banks' tokenised-deposit build-out, under the same reserve, insurance and prudential rules as ordinary deposits.
Read the original: Bank of Korea ↗
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More detail
Who is affected
Korean commercial banks issuing tokenized deposits, central government programmes disbursing treasury payments, EV charge point operators receiving subsidies, users and merchants.
What remains uncertain
- The 2030 goal is stated as a government plan; no interim milestones are given in the remarks.
Key facts
- Event
- Speech
- Jurisdiction
- APAC
- Source
- Bank of Korea
- Source tier
- Tier 1 · Regulator / central bank
- Product
- Tokenized deposits
In the database
Institutions
How we verified this
The source says
“Now the government has a plan to use the tokenization platform that we have, to disburse a quarter of all the central government treasury payments by 2030.”
“We had seven commercial banks, about 80,000 users, and around 12,000 merchants.”
“So the usual rules on reserve requirements, deposit insurance and prudential regulation all transfer over to tokenized deposits.”
“And because we have viewers from Korea, let me just reiterate what I said during my confirmation hearings that I support the introduction of a stablecoin framework in Korea.”
“But at the same time tokenization is best done using central bank money.”
Verbatim from Bank of Korea, matched word for word against the live page on 31 October 2026.
Sources
- PrimaryBank of Korea ↗2026-07-31T1Regulator
Evidence
- Confidence
- High Primary source (regulator / official record); quote string-matched against the live page.
- Quote verified
- 2026-10-31 20:01 UTC
- Archived snapshot
- SHA-256
d5d373b7cf2c8a55…· fetched 2026-10-30 - Source type
- Primary Bank of Korea ↗
Change log (1)
- 2026-10-30 Published
AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source; quote string-matched against the live source page.
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