The Bank of Korea is enhancing its collaboration with the Bank of England in the fields of digital currency and asset tokenization.
On October 19, Sarah Breeden, Deputy Governor of the Bank of England, visited the Bank of Korea to exchange views on key issues, including payment innovation. Breeden oversees financial stability at the Bank of England.
Central bank officials from both countries also attended the meeting to share updates on projects related to digital currency and asset tokenization.
Tokenization refers to the technology that utilizes distributed ledger technology to represent financial assets and transaction information in the form of digital tokens. This approach allows for the simultaneous processing of various stages such as trading, clearing, and settlement by embedding transaction conditions and execution rules within the ledger.
Key topics of discussion included the Bank of Korea's 'Project Han River' and the 'Project Agora,' which involves participation from both countries. Additionally, they reviewed the progress of initiatives in the asset tokenization sector and discussed future collaboration possibilities.
The Bank of Korea plans to continue fostering international cooperation in the areas of digital currency and asset tokenization as a result of these discussions.
A Bank of Korea official stated, "We intend to actively share the experiences gained from projects like Project Han River with the international community and participate in related global discussions."
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.