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South Korea to launch digital currency pilot with 100,000 residents next year

The Bank of Korea (BOK) rolled out details on its pilot program for its retail central bank digital currency (CBDC), stating that 100,000 selected Korean citizens will join the trial in the fourth quarter of next year. The participants will be able to buy goods with tokens in the form of CBDC issued by commercial banks. The central bank said that a digital currency could solve issues with existing voucher systems, which are special government grants.