Digital Times reported that deposit tokens, considered a 'hybrid model' between stablecoins and central bank digital currencies (CBDCs), are emerging as a new alternative amid prolonged legal uncertainties surrounding stablecoins. The Bank of Korea's CBDC pilot program, 'Project Han River,' has entered its second phase, with Kyongnam Bank and iM Bank newly joining the banks that participated in phase 1 (Kookmin, Shinhan, Hana, Woori, NH Nonghyup, IBK, Busan). Deposit tokens are digital assets issued based on bank deposits, similar to stablecoins but differing in that the issuing entity is a bank. The media added, "The industry anticipates that even if CBDCs are introduced, bank-based deposit tokens are highly likely to play a complementary role in actual circulation and payment areas."
