In a continuation of their work on #DLT-enabled cross-border remittances, Shinhan Bank - in collaboration with SCB TechX and the
18 Jul 2023, 05:16
In a continuation of their work on #DLT-enabled cross-border remittances, Shinhan Bank - in collaboration with SCB TechX and the largest financial institution in Taiwan - has today announced the successful completion of a second #stablecoin remittances pilot on #Hedera.
The pilot achieved real-time settlement and real-time foreign exchange (FX) rate integration across the Thai Baht (THB), New Taiwan dollar (NTD), and South Korean won (KRW). The PoC is #EVM-compatible, meaning that any EVM-based #stablecoin issuers can utilize the framework going forward.
The success of this pilot marks a significant milestone as banks and institutions continue to explore ways #web3 and #DLT can revolutionize finance, bringing increased accessibility, security, and interoperability to the emerging digital economy.
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