Shinhan Bank, SCB TechX and others complete Hedera-based stablecoin remittance proof-of-concept pilot

Shinhan Bank, in partnership with Siam Commercial Bank Technological Innovation Business Unit (SCB TechX) and other financial institutions, has completed a proof-of-concept (PoC) pilot for stablecoin remittances based on Hedera, an open-source proof-of-stake blockchain. Real-time settlement and real-time exchange rate price integration of Thai baht, New Taiwan dollar, Korean won, and PoC compatible with EVM, which means that any EVM-based stable currency issuer can take advantage of this framework.