According to CoinMeta, the Bank of Korea is participating in the Agora project of the Bank for International Settlements (BIS), utilizing tokenized reserve funds to conduct live tests for global payment and settlement. A total of 28 institutions are involved in the tests, covering currencies such as the Korean won, US dollar, euro, British pound, Swiss franc, and Japanese yen. Domestic Korean institutions participating include the KB National Bank of Korea, Nonghyup Bank, Shinhan Bank, Woori Bank, and Hana Bank. The participating institutions conducted live transaction tests worth approximately 800,000 Swiss francs across 17 different transaction scenarios. The Bank of Korea plans to carry out more real-world transaction tests.