Shinhan Bank announced that starting from the 25th, it will begin accepting pre-registrations from customers who wish to participate in the Bank of Korea's digital currency test, "Project Hangang."
This test is jointly conducted by the Bank of Korea, financial authorities, and seven banks. It is a public participation pilot project aimed at verifying the practical usability of digital currency and reviewing the future direction for building financial market infrastructure.
Shinhan Bank will integrate a deposit token payment system into the Shinhan SOL Bank app and conduct real transaction tests with pre-registered customers from June 1 to June 30.
Customers who wish to participate can open a "Deposit Token Electronic Wallet" in the "SOL Wallet" menu of the Shinhan SOL Bank app and convert their existing deposits into deposit tokens. They can then easily make payments using QR codes at designated online and offline merchants. The holding limit for deposit tokens is 1,000,000 KRW, and the total conversion limit is 5,000,000 KRW.
Shinhan Bank's innovative financial service "Ttaenggyeoyo" will participate in Project Hangang as an online payment merchant. While checking its scalability as a payment method within delivery apps, it also plans to provide services that benefit both consumers and merchants.
Shinhan Bank will provide 3,000 My Shinhan Points to the first 10,000 customers who open a "Deposit Token Electronic Wallet." During the test period, three customers will be drawn weekly to receive 300,000 points for "Ttaenggyeoyo."
A Shinhan Bank representative stated, "We have prepared this test so that customers can experience a new payment method and receive financial benefits during the pilot project period," adding, "As a participating bank and designated merchant of Project Hangang, we will faithfully fulfill our role to ensure the smooth progress of the digital currency test."
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