South Korean Shinhan Bank completes stablecoin remittance pilot with Asian partners By Cointelegraph
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South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.
The project carried out real-time settlement and foreign exchange integration with the banks’ national currencies on the Hedera network. The project was compatible with the Virtual Machine (EVM), opening it up to use by a host of other stablecoins.
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South Korea’s Shinhan Bank has completed its second proof-of-concept using stablecoins for international remittances. Siam Commercial Bank’s SCB TechX unit and an unnamed Taiwanese financial institution also participated in the project.
The project carried out real-time settlement and foreign exchange integration with the banks’ national currencies on the Hedera network. The project was compatible with the Virtual Machine (EVM), opening it up to use by a host of other stablecoins.
Continue Reading on Coin Telegraph
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