South Korea’s Oldest Bank Is Testing Stablecoins for Remittances

South Korea’s Oldest Bank Is Testing Stablecoins for Remittances

South Korea's Shinhan Bank has completed a stablecoin remittance pilot for select Asian currencies on the Hedera Network.
The bank collaborated with SCB TechX to test stablecoin transfers, which provide protection from currency fluctuations during transfers.
Recent research from the University of Hong Kong suggests issuing a stablecoin to counter US dollar dominance.