Bank of Korea Successfully Tests Global Tokenized Payment for Agora Project

The Bank of Korea participated in a live trading test of the Agora project, a global payment settlement initiative led by the Bank for International Settlements, successfully completing transactions using tokenized reserve funds. A total of 28 institutions took part in this test, including the Bank of Korea, various central banks, and private financial institutions, covering six currencies: Korean won, US dollar, euro, British pound, Swiss franc, and Japanese yen. Domestic participants included KB Kookmin Bank, NongHyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. The participating institutions conducted live trading tests valued at approximately 800,000 Swiss francs, covering multiple currencies and testing 17 different trading scenarios. The Bank of Korea stated that the Agora project plans to identify transaction types and scenarios not covered in this test and to conduct more real trading tests in the future.