Three of the biggest tech companies in South Korea are reportedly willing to participate in the upcoming Bank of Korea’s central bank digital currency (CBDC) pilots. Naver, Kakao and LG are set to submit their respective bid to be part of the digital won-prototype program set to be handled by the Bank of Korea (BOK), according to Money Today.
The report states that Kakao Pay, Kakao’s e-payments arm, and its blockchain subsidiary Ground X could jointly submit applications to participate in the pilots. On the other hand, Naver, the Founder of chat app Line and the country’s biggest search engine, has expressed its willingness to join BOK’s call to test South Korea’s CBDC. The bid from Naver could be possible through its financial branch, Naver Financial, said the media outlet.
