Proof-of-concept reflects real corporate remittance requirements, covering application through payment and return

[Shinhan Bank]
[Shinhan Bank]

Shinhan Bank announced Wednesday that it has completed a technology proof-of-concept using stablecoins in its payment and settlement processes for corporate overseas remittances, while keeping the existing remittance experience unchanged for business customers. The system is designed so that companies can send money abroad without creating a separate digital asset wallet or handling stablecoins directly.

The bank carried out a full end-to-end proof-of-concept for stablecoin-based corporate overseas remittances in a test environment and verified its operational applicability. The Solana Foundation participated as a technology partner.

A key feature of the proof-of-concept is that corporate customers continue to use their existing corporate banking services and foreign currency accounts as before, while the bank handles all digital asset transfers and settlement on the back end. The design reduces the burden on corporate customers of managing digital assets themselves, integrating new settlement technology into the bank's existing remittance procedures.

Shinhan Bank modeled the proof-of-concept on the actual overseas remittance requirements of large domestic corporations, implementing the full workflow — from counterparty registration and internal approval to foreign currency account verification, remittance execution, fund settlement and recipient payment, and remittance returns. The bank also confirmed its ability to handle the outcomes of each step and respond to exceptional circumstances.

Protection of corporate transaction data was also a key area of verification. The bank applied a structure that shields individual transaction details — including counterparty information, transaction amounts and payment data — from external exposure, while still allowing transaction validity to be confirmed.

Based on the proof-of-concept results, Shinhan Bank plans to examine the feasibility of applying the technology to actual services in line with the relevant regulatory environment.

"This goes beyond simply verifying the technical performance of stablecoins — the significance lies in having validated the applicability of a new payment and settlement method within real corporate remittance operations and the bank's own control framework," a Shinhan Bank official said. "We will continue to review ways to apply the relevant technology and services so that we can offer more efficient overseas remittance services while preserving the existing workflows of our corporate customers."


forest@heraldcorp.com