Bank of Korea expands CBDC pilot to 500,000 users in Phase 2

The Bank of Korea has launched Phase 2 of its central bank digital currency (CBDC) pilot, Project Hangang, expanding it to half a million users. Phase 1 opened 81,000 wallets, with 42% of holders actively using the digital currency. Phase 2 marks a significant escalation as it will involve real government money rather than test funds.