Seven South Korean banks to participate in CBDC-driven pilot (Crypto.news)

South Korea‘s Financial Services Commission (FSC) has authorized seven domestic banks to participate in a pilot program testing digital financial services based on central bank digital currency (CBDC) and deposit tokens. The pilot project will offer digital vouchers via QR codes, which users can scan with their smartphones to redeem government-provided benefits digitally at registered merchants, including educational institutions, cultural centers, and welfare-related outlets. The FSC did not specify a timeline for the pilot. [Read more at the FSC]

Mastercard joins Buna, the Arab regional payment system (Mastercard)

Mastercard will join the Arab Monetary Fund’s (AMF’s) Buna cross-border real-time gross settlement (RTGS) payment platform as a direct participant. The collaboration will provide a simple, efficient and practical solution to current challenges that include high costs, long wait times and lack of transparency when moving funds into and out of the Middle East and North Africa (MENA) region. By leveraging existing infrastructure and connections, the collaboration avoids the need for major investments or adjustments from participant banks. [Read more at Mastercard]

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