La Corée du Sud relance son programme de CBDC avec l'adhésion de Daiso

Daiso has become South Korea’s leading discount retailer by offering a wide array of goods, many priced at an attractive 1,000 won (approximately $0.69). This approach has made the chain a mainstay for millennial and Gen Z consumers, as well as a popular tourist destination.

Now, Daiso is joining the next phase of trials for the digital won, a critical step in testing South Korea’s central bank digital currency (CBDC). In this model, the Bank of Korea issues the CBDC to participating banks, which act as intermediaries.

These banks then create deposit tokens that customers can add to digital wallets. When a user makes a purchase at Daiso, the bank deducts tokens from the customer’s wallet, and the Bank of Korea transfers the corresponding amount of digital won from the bank to Daiso via blockchain.

Lacking Consumer Fervor

The Daiso integration marks a milestone for a CBDC that has faced its share of challenges. The first trials of the digital won were conducted at brick-and-mortar stores like Kyobo Book Centre, 7-Eleven, and Ediya Coffee, as well as through the Ddangyo delivery app. Seven major banks participated in the pilot, including KB Kookmin Bank, Shinhan Bank, Hana Bank, and Woori Bank.

However, only about 42% of converted deposit tokens were used during this initial trial, and roughly half of those transactions occurred via Shinhan Bank’s Ddangyo platform. This limited  consumer uptake, combined with the costs of running the trial, led the Bank of Korea to pause further CBDC pilots and explore issuing a won-backed stablecoin instead.

Understanding the Flows

Globally, the rollout of CBDCs has often been hampered by similar challenges. The rapid adoption of stablecoins has offered a faster, cheaper alternative, though these are typically issued by private companies like Circle and Tether and backed by the U.S. dollar. This reliance on foreign-backed private stablecoins has prompted many countries to explore ways to strengthen their own currencies.

South Korea, in particular, has raised concerns about private stablecoin issuance, including the potential for money laundering or abuse. The central bank has suggested that any won-backed stablecoin should only be issued by licensed domestic banks. Regulatory disputes over this model have delayed its approval—likely contributing to the renewed interest in a CBDC.

If participation in the new round increases, the Daiso trials could provide regulators with a better understanding of CBDC usage. Bank of Korea officials noted that the frequent, small-ticket purchases at Daiso may offer valuable insights into deposit token flows and consumer behavior.

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Tags: Bank of KoreaCBDCDaisoSouth KoreaStablecoin