Fintech security company ATON announced on the 3rd that it has successfully established and officially opened a response system for NH Nonghyup Bank's real transaction testing of Central Bank digital currency.

The newly opened system serves as the core infrastructure for the 'Project Han River,' led by the Bank of Korea and financial authorities, and will be utilized for real transaction testing of deposit tokens involving 100,000 citizens until June 30.

Fintech security company ATON announced on the 3rd that it has successfully established and officially opened a response system for NH Nonghyup Bank's real transaction testing of Central Bank digital currency.

The newly opened system serves as the core infrastructure for the ‘Project Han River,’ led by the Bank of Korea and financial authorities, and will be utilized for real transaction testing of deposit tokens with 100,000 citizens until June 30.

ATON has successfully completed the establishment of a cloud platform (NCP) based blockchain infrastructure, development of the deposit token conversion system, integration with NH Olwen Bank, and implementation of the real payment system after being selected as the contractor for NH Nonghyup Bank's response system.

The new system has specialized features that not only support deposit token functionality but also link to the security token offering (STO) business currently being pursued separately by NH Nonghyup Bank. This has secured an infrastructure capable of conducting exchange tests between digital currency and token securities, which is regarded as a differentiated competitive advantage for NH Nonghyup Bank's system.

Through pre-registration, selected customers of NH Nonghyup Bank can generate a QR code by selecting the ‘show QR’ function in the Olwen Bank app's deposit token electronic wallet, which a staff member in Hanaro Mart can scan for easy payment. Refunds can also be processed in the same manner by generating and presenting a refund-specific QR code from the electronic wallet. ATON has established a payment system covering everything from opening a digital currency electronic wallet in the Olwen Bank app to completing the deposit token conversion and integrating it with Hanaro Mart's POS system.

ATON plans to actively participate in upcoming projects related to digital currency, having established a technical foundation necessary for the expansion of the digital currency ecosystem based on extensive project experience with virtual asset operators and expertise in travel rule technology support.

Ugil Soo, CEO of ATON, stated, "Digital currency will bring various advantages, including improved payment convenience, enhanced transparency in transactions, and increased financial inclusion." He concluded by saying, "ATON will continue to contribute to the successful introduction of digital currency in South Korea through innovative technology support that combines blockchain and security."