[Featured Stock] KCT, Bank of Korea "Verification of Cross-Border Payment CBDC Utilization"... Special Terminal Spotlighted Upward

KCT is showing strong performance. This is interpreted as being influenced by the news that the Bank of Korea has verified ways to enhance transparency and efficiency in cross-border payments and settlements using central bank digital currency (CBDC).

As of 2:04 PM on the 29th, KCT is trading at 2,255 KRW, up 3.44% compared to the previous day.

According to industry sources, the Bank of Korea successfully completed the 'Project Mandala' conducted jointly with the Bank for International Settlements (BIS) Innovation Hub Singapore Centre and the central banks of Australia, Malaysia, and Singapore, and jointly released the final report.

This project was promoted to explore the possibility of improving the efficiency of cross-border payments by alleviating the regulatory compliance verification burden on financial institutions. Financial institutions handling cross-border payments must verify compliance with each country's ▲Capital Flow Management (CFM) policies ▲Anti-Money Laundering (AML) ▲Counter Financing of Terrorism (CFT) regulations. Different regulatory systems in each country increase the cost of cross-border payments and lengthen the time required for transactions.

Project Mandala confirmed through a proof of concept that such regulatory compliance verification can be systemically automated and simplified, so that banks in each country do not have to redundantly verify compliance, reducing payment delays and cancellation risks.

Meanwhile, KCT is a company that manufactures and sells financial and special terminals and is considered a digital currency-related stock. It is known to have provided special terminal systems to Korea Racing Authority and Incheon International Airport.