Central Banks of South Korea, France Hold Talks on Digital Assets

• Central banks review how digital assets are reshaping global payments and macro trends.
• France and South Korea advance CBDC pilots, boosting cross-border cooperation.
• South Korea tightens stablecoin rules, while France enforces MiCA compliance. 

The Bank of Korea and Bank of France held a joint seminar this week to examine how digital assets and climate change are reshaping the global macroeconomic landscape, officials said on Tuesday.

The discussions focused not on setting crypto policy, but on understanding the broader economic effects of digital finance, including its role in payments, financial stability, and cross-border coordination.

The event follows a recent state visit to Seoul by Emmanuel Macron, which shows growing financial cooperation between the two countries.

Ongoing Academic Exchange

“The two institutions will exchange views on the role of central banks and policy response directions amid recent changes in the financial environment,” the Bank of Korea said. 

The seminar is part of an ongoing academic exchange program launched in 2024, with sessions held alternately in South Korea and France. Officials said both sides plan to expand cooperation further through future conferences and joint research initiatives.

Digital Assets and Payments Transformation

Officials said digital assets are increasingly influencing global payment systems, particularly through the rapid rise of stablecoins and tokenized finance. Participants discussed how such developments could reshape liquidity flows, settlement systems, and monetary control.

For the unversed, stablecoins have expanded sharply in recent years, with their combined market value reaching around $311 billion, up from roughly $50 billion five years ago. 

CBDC Cooperation Gains Traction

Both central banks also exchanged views on Central Bank Digital Currencies (CBDCs), with each country advancing its own projects.

France is currently running wholesale CBDC pilot programs, while South Korea is developing its “Project Han River” initiative.

Talks covered design principles for both retail and wholesale CBDCs, including technical architecture and interoperability, as policymakers explore how sovereign digital currencies could coexist with private digital assets.

Regulatory Coordination and Financial Stability

Regulatory frameworks for digital assets were also high on the agenda, particularly the need for cross-border coordination.

South Korea is moving toward tighter oversight of stablecoins, requiring won-pegged tokens to be issued only by licensed banks. Legislation is expected by mid-2026 to prevent capital flight risks and maintain monetary policy control.

In France, digital assets are classified as negotiable intangible property. Stablecoin issuers fall under the supervision of the country’s banking regulator and must comply with the European Union’s Markets in Crypto-Assets (MiCA) framework by June 30, 2026.

Related: South Korea’s Toss Explores Own Digital Currency Amid Regulatory Delay