Tech giant Samsung Electronics is reportedly partnering with the South Korean central bank to research central bank digital currency (CBDC) for offline payments. This partnership is aimed at testing the South Korean CBDC’s potential to conduct remittance and payments using near-field communication (NFC) on Samsung mobile devices instead of the Internet.
On May 15, South Korea’s central bank — Bank of Korea (BOK) — and Samsung signed a memorandum of understanding (MoU) for research on offline CBDCs.
