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The Bank of Korea announced a CBDC test involving around 100,000 people through participation by 6 banks in Korea at the end of this year. According to the financial sector on Sept. 20, a total of 6 banks, including NH Nonghyup Bank, decided to conduct a 6 month CBDC test with the Bank of Korea. Hanaro Mart, affiliated with Nonghyup, was selected as the site for the CBDC test.
2. Tether Reaches Market Cap Of Around $120 billion
The market capitalization of the largest stablecoin Tether(USDT) reached about $119 billion (about KRW 160.2 trillion) on Sept. 22, including 1 billion more issued on the Ethereum network last week. According to data released by Tether, Tether currently has about $97 billion in U.S. government bonds, more than the German, UAE and Australian governments.
3. SC Bank "Bitcoin Reaches $200,000 Next Year"
Global bank Standard Chartered has predicted that the price of Bitcoin will soar, citing its entry into a favorable environment that can lead to a rise in the price of Bitcoin(BTC). Jeffrey Kendrick, general manager of Standard Chartered Cryptocurrency, claimed in a report published on Sept. 22 that Bitcoin will surpass $200,000 per unit at the end of next year, citing the inflow of funds from institutional investors through exchange-traded fund(ETF) and the rise as a 'hedging asset' due to interest rate cuts.
4. IMF Proposes Framework to Promote CBDC Adoption
The International Monetary Fund (IMF) has announced guidelines to promote the introduction of CBDCs by banks around the world. On Sept. 22, the IMF presented a CBDC framework consisting of ▲regulation ▲education ▲design ▲distribution ▲incentives.
권승원 기자 ksw@