TechFlow reports that Shinhan Bank (South Korea's first modern bank), SCB TechX (the technology innovation unit of Thailand's Siam Commercial Bank), and Taiwan's largest financial institution today announced the successful completion of a stablecoin remittance proof-of-concept pilot. The pilot was built on the efficient and environmentally sustainable Hedera open-source public network.
In a test environment aligned with current production capabilities, the pilot achieved real-time settlement and real-time foreign exchange rate integration among the Thai Baht (THB), New Taiwan Dollar (NTD), and South Korean Won (KRW). The proof-of-concept is compatible with the Ethereum Virtual Machine (EVM), meaning any EVM-based stablecoin issuer can potentially participate using this framework in the future.
