Woofun AI reports that South Korea's Financial Services Commission initiated the second phase of the "Hangang Project" CBDC pilot, with Gyeongnam Bank and iM Bank joining to bring the total participant count to nine. The testing scope significantly expands, increasing the electronic wallet cap from 100,000 to 500,000 and extending usage from existing merchants to small, medium, and large enterprises.

New functionalities include wallet-to-wallet transfers and a treasury fund payment pilot. The single wallet holding limit rises from 1 million KRW to 10 million KRW, while the cumulative holding limit increases from 5 million KRW to 100 million KRW.