Bank of Korea launches a 24-hour KRW settlement pilot for foreign investors

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AT A GLANCE

The Bank of Korea and domestic banks are trialing a weekday 24-hour KRW settlement network, with plans to 2027 year January commence full operations and expand participating institutions.

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[Bank of Korea Launches 24-Hour KRW Settlement Pilot for Foreign Investors]

The Bank of Korea (BOK) has launched its first 24-hour KRW settlement network pilot, intended to enable foreign investors to settle KRW transactions outside normal banking hours in Korea. The central bank announced on Monday that its international wire transfer network has begun a trial operation with KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank, with full operations expected to commence in 2027.January Participation will then be expanded to other institutions and foreign banks. The network operates 24 hours per day on weekdays, excluding weekends and public holidays. Foreign investors may settle KRW transactions during business hours in their home jurisdictions through Registered Foreign Institution accounts for KRW business (RFI-K), without having to open accounts directly with Korean financial institutions. The Bank of Korea stated that the network is expected to help strengthen the international standing of the KRW by improving foreign investors' access to KRW settlement infrastructure. In addition, the Bank of Korea is testing tokenized settlement infrastructure through the Bank for International Settlements-led Agorá project, which in July completed real-value cross-border payment trials using tokenized central bank reserves and commercial bank deposits, including KRW. The Bank of Korea is also advancing Project Hangang, a blockchain-based pilot that uses wholesale central bank digital currency to settle tokenized commercial bank deposits.

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Key points

[Bank of Korea Launches 24-Hour KRW Settlement Pilot for Foreign Investors] The Bank of Korea (BOK) has launched its first 24-hour KRW settlement network pilot, intended to enable foreign investors to settle KRW transactions outside normal banking hours in Korea. The central bank announced on Monday that its international wire transfer network has begun a trial operation with KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank, with full operations expected to commence in 2027.January Participation will then be expanded to other institutions and foreign banks. The network operates 24 hours per day on weekdays, excluding weekends and public holidays. Foreign investors may settle KRW transactions during business hours in their home jurisdictions through Registered Foreign Institution accounts for KRW business (RFI-K), without having to open accounts directly with Korean financial institutions. The Bank of Korea stated that the network is expected to help strengthen the international standing of the KRW by improving foreign investors' access to KRW settlement infrastructure. In addition, the Bank of Korea is testing tokenized settlement infrastructure through the Bank for International Settlements-led Agorá project, which in July completed real-value cross-border payment trials using tokenized central bank reserves and commercial bank deposits, including KRW. The Bank of Korea is also advancing Project Hangang, a blockchain-based pilot that uses wholesale central bank digital currency to settle tokenized commercial bank deposits. 🎾🎾🎾🎾🎾🎾🎾🎾 Breaking news/advertising contact @Cindy88888

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

No additional explanation is available beyond the summary.

Why it matters to readers

The content explicitly lists the pilot banks, operating hours, and full-operation timeline, and states that it was announced by the Bank of Korea; however, the supplied material is a report by a professional channel rather than the central bank's original announcement. Its impact is primarily concentrated on facilitating cross-border won settlement, with no clear direct impact on the crypto asset watchlist at present.

Watch for subsequent official information and do not make decisions based on a single report.

Risks and unknowns

Pilot operating data and formal announcements released by the Bank of Korea or participating banks
2027 year January Will full operations commence as scheduled?
_1__, and whether participation expands to foreign banks and additional institutions
RFI Changes in -K account usage and the scale of offshore won settlement

AT A GLANCE

The Bank of Korea and domestic banks are trialing a weekday 24-hour KRW settlement network, with plans to 2027 year January commence full operations and expand participating institutions.

Article

[Bank of Korea Launches 24-Hour KRW Settlement Pilot for Foreign Investors]

🎾🎾🎾🎾🎾🎾🎾🎾 Breaking news/advertising contact @Cindy88888

Key points

[Bank of Korea Launches 24-Hour KRW Settlement Pilot for Foreign Investors] The Bank of Korea (BOK) has launched its first 24-hour KRW settlement network pilot, intended to enable foreign investors to settle KRW transactions outside normal banking hours in Korea. The central bank announced on Monday that its international wire transfer network has begun a trial operation with KB Kookmin Bank, Woori Bank, Hana Bank, and Shinhan Bank, with full operations expected to commence in 2027.January Participation will then be expanded to other institutions and foreign banks. The network operates 24 hours per day on weekdays, excluding weekends and public holidays. Foreign investors may settle KRW transactions during business hours in their home jurisdictions through Registered Foreign Institution accounts for KRW business (RFI-K), without having to open accounts directly with Korean financial institutions. The Bank of Korea stated that the network is expected to help strengthen the international standing of the KRW by improving foreign investors' access to KRW settlement infrastructure. In addition, the Bank of Korea is testing tokenized settlement infrastructure through the Bank for International Settlements-led Agorá project, which in July completed real-value cross-border payment trials using tokenized central bank reserves and commercial bank deposits, including KRW. The Bank of Korea is also advancing Project Hangang, a blockchain-based pilot that uses wholesale central bank digital currency to settle tokenized commercial bank deposits. 🎾🎾🎾🎾🎾🎾🎾🎾 Breaking news/advertising contact @Cindy88888

AI-assisted interpretation

The following is analysis, separate from reported facts. Verify important claims independently.

No additional explanation is available beyond the summary.

Why it matters to readers

Watch for subsequent official information and do not make decisions based on a single report.

Risks and unknowns

Pilot operating data and formal announcements released by the Bank of Korea or participating banks
2027 year January Will full operations commence as scheduled?
_1__, and whether participation expands to foreign banks and additional institutions
RFI Changes in -K account usage and the scale of offshore won settlement

Bank of Korea launches a 24-hour KRW settlement pilot for foreign investors

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Bank of Korea launches a 24-hour KRW settlement pilot for foreign investors

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