Stablecoin

Hedera

Bank AI

Coin

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 <li>Shinhan Bank, SCB TechX, and a financial institution in Taiwan, have completed a successful pilot for stablecoin remittance.</li> 
 <li>The pilot project aimed to tackle issues with cross-border payments.</li> 
 <li>Byunghee Kim, head of Blockchain at Shinhan Bank, highlighted the advantages of stablecoins in increasing financial inclusion.</li> 
 </ul> 
 Shinhan Bank, SCB TechX (Siam Commercial Bank’s technology innovation business unit), and a prominent financial institution in Taiwan have jointly <a href="https://hedera.com/blog/shinhan-bank-scb-techx-successfully-pilot-stablecoin-remittances-on-the-hedera-network" target="_blank" rel="noopener noreferrer nofollow">announced</a> the successful completion of a proof-of-concept (PoC) pilot for <a href="https://coinedition.com/tag/stablecoin/" rel="noopener noreferrer nofollow">stablecoin</a> remittance. The PoC was developed using the open-source public network Hedera. 
 The objective of the project was to address common issues associated with cross-border payments, such as high fees, lengthy settlement times, and a lack of tracking features. SCB TechX, along with other financial institutions, participated in this pilot initiative. 
 Byunghee Kim, the head of blockchain at Shinhan Bank, highlighted the advantages of stablecoins, stating, 
 <blockquote class="wp-block-quote"> 
 “Stablecoins offer a low-cost, fast, and reliable way to transfer value across borders, which can help to increase financial inclusion and improve access to financial… 
 </blockquote> 
 The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/shinhan-bank-explores-stablecoin-payments-on-hedera-network/">Shinhan Bank Explores Stablecoin Payments on Hedera Network</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.
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Shinhan Bank Explores Stablecoin Payments on Hedera Network

Coin Edition

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