Bank of Korea completes Project Agora test… from issuance to redemption of tokenized reserves

The Bank of Korea successfully completed a real-transaction test of Project Agorá, a cross-border real-time payment initiative with eight central banks and 28 institutions.

In the pilot, the central bank used tokenized reserve balances for interbank won transfers with NongHyup Bank and Shinhan Bank.

The test manually linked the Bank of Korea’s CBDC platform with the central bank payment network to enable issuance and redemption flows.

The result signals continued progress on faster, more interoperable cross-border payment infrastructure using tokenized central bank reserves.