BOK and BoE Enhance Collaboration on Tokenization Initiatives
The Bank of Korea is expanding its partnership with the Bank of England on tokenization projects to drive financial innovation.
The Bank of Korea is expanding its partnership with the Bank of England on tokenization projects to drive financial innovation.
On October 20, 2026, the Bank of Korea (BOK) announced an expansion of its cooperation with the Bank of England (BoE) focusing on tokenization projects. This collaboration aims to foster innovation in payment and settlement systems, aligning with global financial trends.
Sarah Breeden, the BoE's deputy governor for financial stability, visited the BOK recently, where she engaged in discussions with BOK officials. They exchanged insights on various tokenization initiatives, including the global Project Agora and South Korea's own Project Hangang.
Project Agora, led by the Bank for International Settlements, investigates how tokenized commercial bank deposits and central bank digital currencies can enhance the global financial landscape, particularly in cross-border transactions. Meanwhile, Project Hangang serves as a pilot project utilizing blockchain technology to explore the potential of digital currencies.
The BOK expressed its commitment to actively share its experiences in tokenization and to participate in international dialogues surrounding this emerging financial technology. This initiative reflects a broader trend among central banks to explore innovative solutions that improve efficiency and security in financial transactions.
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