KB Kookmin Bank said on the 20th that it will take part in phase two of "Project Hangang," a central bank digital currency pilot led by the Bank of Korea and the financial authorities.
Phase two focuses on further improving payment convenience that customers can tangibly experience. In partnership with KGINICIS, the country's largest payment gateway (PG), it laid the groundwork to expand payments using deposits tokens.
KB Kookmin Bank joined phase one of Project Hangang in April last year with its own technology. Using "deposits tokens," a means of payment, it offered customers the experience of paying with digital currency at online and offline merchants including 7-Eleven, Kyobo Book Centre, EDIYA COFFEE, and Hyundai Home Shopping. In real-transaction tests, it posted about a 30% share of electronic wallet openings, the highest level among participating banks.
A KB Kookmin Bank official said, "We will build a digital finance environment that is used naturally in daily life by enhancing convenience and efficiency that both customers and merchants can feel."