Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
Following
BTC 
ETH The Bank of Korea launches a 24-hour Korean won settlement network pilot to improve offshore market access
The Bank of Korea recently launched its first 24-hour Korean won settlement network pilot project. The measure aims to allow foreign investors to complete the settlement of Korean won transactions outside the business hours of traditional Korean banks, thereby improving the convenience of international use of the Korean won.
Overview of pilot operation
The pilot is attended by four local South Korean banks, and the official access plan for foreign banks will be launched in January next year. The new network will operate 24/7 on weekdays and will only be suspended on weekends and public holidays.
Through this system, foreign investors can make Korean won settlement through the "Registered Foreign Institution Korean Won Business Account"(RFI-K) without opening an account with a Korean financial institution. On Monday morning, the Central Bank of Korea successfully processed the first transaction of the pilot, worth approximately 1.4 billion won.
Policy Background and Regulatory Framework
The Bank of Korea stated in a September 21 announcement that the trial operation of the Bank of Korea Korean Won International Remittance Network (BOK-Wire) is part of South Korea's plan to improve offshore won access. The pilot started at 9 a.m. and the first banks to participate include KB National Bank, Woori Bank, Hana Bank and Shinhan Bank.
According to previously revised foreign exchange regulations, registered foreign institutions can open comprehensive accounts with the Korea Foreign Exchange Bank and process Korean won settlement through the Korean Banking Network. South Korea's Ministry of Finance said the changes are an important part of the government's plan to reduce the reliance on time and location for offshore won transactions.
在该模式下，海外投资者可以通过其所在市场的注册机构持有或交易韩元，而基础结算则通过中央银行的基础设施完成。此举旨在使国内外汇市场对国际参与者更加开放。
技术测试与并行项目
值得注意的是，新的国际汇款网络并未采用韩国银行基于区块链的数字货币项目结构。韩国银行目前正在通过“Hangang项目”和国际清算银行主导的“Agora项目”分别开发代币化结算基础设施。
早在7月，韩国银行就在Agora项目中完成了多币种代币化央行储备的跨境支付测试。此外，“Hangang项目”已在第二阶段将参与银行从七家扩展至九家，并引入了包括点对点转账、生物识别批准和政府补贴支付在内的存款代币功能。
韩元国际化路线图
该结算系统是韩国《韩元国际化路线图》的一部分，该路线图由财政部联合韩国银行等机构于今年7月发布。路线图提出要实现全天候外汇访问、离岸韩元账户、更便捷的资金交易以及韩国境外的结算基础设施。
韩国央行表示，预计该网络将改善外国人进入韩元结算基础设施的途径，最终提升该货币的国际地位。随着全面运营定于2027年1月启动，央行计划在试点期间持续监控系统，并在操作和技术层面进行调整，以确保网络的稳定性和安全性。
