
Bank of Korea launches 24
The Bank of Korea has launched a pilot program for a 24-hour won settlement network designed to facilitate international transactions outside of South Korea's standard banking hours. By partnering with four major domestic lenders—KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank—the central bank aims to streamline access for foreign investors through Registered Foreign Institutions for KRW Business. This infrastructure allows investors to settle won transactions during their local business hours without requiring direct accounts at South Korean financial institutions. Full operational status is targeted for January 2027, with plans to expand participation to additional domestic and foreign banks. This initiative is part of a broader strategy to enhance the international standing of the South Korean won. Furthermore, the Bank of Korea is actively exploring tokenized settlement through the Bank for International Settlements' Project Agorá and its own Project Hangang. These efforts utilize wholesale central bank digital currency and tokenized commercial bank deposits to modernize cross-border payment systems. The development represents a significant shift toward blockchain-integrated financial infrastructure for sovereign currency settlement.










