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Samsung to research South Korea’s CBDC for offline payments

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Samsung will research offline CBDCs with South Korea's central bank.

Tech giant Samsung Electronics has reportedly partnered with South Korea’s central bank to conduct research onOn May 15, the Bank of Korea and Samsung signed a memorandum of understanding for research on offline CBDCs,

, which concerned the retail use of CBDCs. The first stage of the BOK’s CBDC research tested basic functions such as CBDC’s issuance, distribution and redemption.

 

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On May 15, the Bank of Korea (BOK) and Samsung signed a memorandum of understanding (MOU) for research on offline CBDCs, according to local media KBS World. The collaboration will have both parties researching the offline capabilities of the CBDC issued by the central bank.

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