Shinhan Bank Implements Entire Corporate Overseas Remittance Process Using Stablecoins

[Financial News] Shinhan Bank announced on the 30th that it had completed a technical validation of the entire corporate overseas remittance process using stablecoins and verified its potential for practical application.
The validation was notable for implementing a structure in which stablecoins could be applied to the bank's payment and settlement processes while allowing companies to continue using their existing overseas remittance methods. Corporate customers can continue using their existing corporate banking services and foreign-currency accounts without directly handling digital-asset wallets or stablecoins. The system was designed so that the transfer and settlement of funds using digital assets take place within the bank's processing operations. The Solana Foundation participated in the technical collaboration.
Reflecting the actual overseas remittance requirements of a major Korean corporation, Shinhan Bank implemented the entire process in a validation environment, including counterparty registration and internal approval, foreign-currency account verification, execution of the remittance by the bank, fund settlement and payment to the recipient, and the return of remitted funds. This enabled the bank to verify step-by-step processing results and its ability to respond to exceptional situations.
The protection of transaction information required for corporate overseas remittances was also included as a key validation item. The system was designed to protect individual transaction details while verifying transaction validity, preventing key corporate information—including counterparties, transaction amounts, and payment details—from being exposed externally. Based on the results of the validation, Shinhan Bank plans to review the potential for applying the technology to actual services in line with future institutional and regulatory conditions.

[email protected] Ye Byung-jung Reporter