7-Eleven stores in South Korea will accept payments made with the country’s central bank digital currency (CBDC) as part of an ongoing national pilot programme.
According to local media, the convenience store chain will let customers pay using digital currency issued by the Bank of Korea, with payments accepted at locations nationwide through to the end of June.
As part of the pilot, shoppers using CBDC will receive a 10% discount on all products.
7-Eleven is the only convenience store participating in the so-called Hangang Project, a real-world test of Korea’s digital won.
To make a payment, users simply generate a QR code from their CBDC wallet, linked to one of seven participating banks, and present it at the counter.
The retailer says the initiative is part of its broader push to embrace next-gen digital technology.
What is the Hangang project?
The Hangang Project is South Korea’s pilot test for its central bank digital currency.
Led by the Bank of Korea in coordination with the country’s Financial Services Commission and the Financial Supervisory Service, the programme kicked off on April 1 and runs through June 30.
The project is designed to explore how a retail CBDC would work in everyday transactions.
Around 100,000 citizens are expected to take part, using the digital won to pay for goods and services at approved stores and platforms.
Participants can convert their regular bank deposits into tokenised CBDC via a digital wallet, which holds the same value as the Korean won.
The QR-based payment system will allow locals to make payments without needing to sign up for any extra services.
Seven major banks, including KB, Shinhan, Hana, Woori, NongHyup, IBK, and Busan, are taking part in the test.
Users are limited to converting a maximum of 5 million won (about $3,400) during the trial.
Besides 7-Eleven, the CBDC is also being accepted at coffee shops, supermarkets, K-pop merchandise stores, and online delivery platforms.
The government hopes the test will help build a blueprint for a future monetary system.
South Korea’s CBDC plans have been in the works since 2020.
The Bank of Korea first announced the retail CBDC testing for 100,000 users in November 2023, which was originally scheduled to begin in the fourth quarter of 2024.
South Korea has also collaborated with foreign bodies to bolster its CBDC efforts.
In December 2023, Italy’s Banca d’Italia signed a memorandum of understanding with the Bank of Korea to share knowledge and collaborate on developing CBDCs and other financial technologies.
Demand for cryptocurrencies on the rise
Despite the government’s CBDC push, locals have increasingly shown an appetite for cryptocurrencies.
As of February, South Korea had 16.29 million crypto investors, about 32% of the country’s population.
The data, shared by Rep. Cha Gyu-geun of the Rebuilding Korea Party, came from the country’s top five domestic exchanges: Upbit, Bithumb, Coinone, Korbit, and Gopax.
The number first topped 14 million in March 2024. After Donald Trump’s US election win in November, another 500,000 people jumped in, bringing the total past 15 million.
Even lawmakers haven’t been immune to the crypto buzz.
A 2025 report from the Government Public Ethics Committee showed that 411 of 2,047 public officials have directly invested in digital assets.
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