Danal Selected for South Korea Deposit Token Payment Infrastructure Project

Danal was selected on the 27th as a participating institution in the 'Deposit Token-Based Payment Infrastructure Expansion Project' under the '2026 Blockchain Innovation Leading Project' promoted by the Ministry of Science and ICT and the Korea Internet & Security Agency (KISA). The selection enables Danal to participate in a private consortium aimed at expanding deposit token payment systems to the private sector. The project operates within South Korea's broader blockchain infrastructure development initiative and connects to the Bank of Korea's central bank digital currency pilot program.

Korea Financial Telecommunications & Clearings Institute Leads Multi-Entity Consortium

According to Danal on the 27th, the project operates as a private consortium format with the Korea Financial Telecommunications & Clearings Institute serving as the lead organization. The consortium includes 9 commercial banks, 8 electronic payment gateway (PG) companies, and 2 major demand entities. The project structure brings together traditional financial institutions and payment service providers to implement deposit token infrastructure.

Project Links to Bank of Korea CBDC Pilot Program

The project aims to expand deposit token payments to the private sector by linking with the Bank of Korea's central bank digital currency (CBDC) pilot project called 'Project Hangang'. The initiative pursues the implementation of payment services that citizens can directly experience, including alleviating fee burdens for small business owners. The connection to the CBDC pilot system provides the technical foundation for private sector deposit token transactions.

Danal Commits to Consumer-Friendly Payment Environment

A Danal official stated, "This project is an important initiative that establishes the foundation for deposit tokens to be utilized in actual commercial transaction environments." The official added, "As we possess operational know-how and technological capabilities in various fields from traditional finance to blockchain, we will focus on building a payment environment that both consumers and merchants can conveniently use."

FAQ

What project did Danal join on the 27th?

Danal was selected as a participating institution in the 'Deposit Token-Based Payment Infrastructure Expansion Project' under the '2026 Blockchain Innovation Leading Project' promoted by the Ministry of Science and ICT and KISA.

How many organizations participate in the deposit token payment consortium?

The consortium led by the Korea Financial Telecommunications & Clearings Institute includes 9 commercial banks, 8 electronic payment gateway companies, and 2 major demand entities, along with Danal.