South Korea's Toss Bank Signs Solana Remittance Pilot to Test Stablecoin Transfers
Toss Bank signed a memorandum of understanding with the Solana Foundation in Seoul on June 19 to test global remittance and settlement infrastructure on the Solana blockchain network. The proof of concept will also assess whether stablecoins, a type of cryptocurrency designed to hold a fixed value, can be used for overseas remittances at the South Korean online bank, which has about 15 million customers.
The bank, which described itself as South Korea's third-largest internet-only lender, plans to review broader uses of blockchain infrastructure in payments, digital assets and tokenized assets, starting with cross-border remittances.
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@wublockchainToss Bank, Solana Foundation to Test Solana-Based Remittances and Stablecoin Use South Korea’s third-largest internet-only bank, Toss Bank, signed an MOU with the Solana Foundation in Seoul on June 19 to test global remittance and settleme
@cointelegraph🇰🇷 JUST IN: South Korea's Toss Bank will use Solana for its global remittance and settlement proof of concept, giving its 15 million customers access to faster, cheaper cross-border transactions.
@solanaBREAKING: Toss Bank is set to use Solana for its global remittance and settlement PoC. The South Korean bank’s 15 million customers will be able to experience faster, more cost-effective global digital finance with Solana.