KG Financial Group headquarters in western Seoul [KB FINANCIAL GROUP]
KB Bank and four other major banks in Korea said Thursday that they had joined an international move to test the prototype of a cross-border payment project known as Project Agora.
The project, spearheaded by the Bank for International Settlements, seven central banks such as the Bank of France and Bank of England, as well as40 private financial institutions, is focused on exploring how tokenized commercial bank deposits and tokenized wholesale central bank money can be used to improve the current financial system, especially for cross-border payments.
Yonhap
