South Korea's Shinhan Bank tests stablecoin payments on Hedera network

Quick Take

  • South Korea’s Shinhan Bank has tested stablecoin remittance payments on the Hedera network

South Korea's Shinhan Bank completed a feasibility test for stablecoin remittance payments using Hedera's distributed ledger technology.

The project's goal was to rectify cross-border payments problems arising from high fees, lengthy settlements times, and the absence of tracking features. The pilot also involved SCB TechX, Siam Commercial Bank's technology in