Jeonbuk Bank Successfully Tests Solana Stablecoin for Cross-Border Remittance
Jeonbuk Bank has successfully completed a proof-of-concept (PoC) for stablecoin cross-border remittance using Solana technology. The test, conducted in partnership with the Solana Foundation and Node Infra, allowed Jeonbuk to manage the entire process from Korean won deposits through local-bank payment.
The bank utilized a private Solana channel to keep transfer counterparties and amounts anonymous on-chain, only recording deposited funds and final settlement results on the public blockchain. This approach ensures the confidentiality of user transactions while maintaining transparency for regulatory purposes.
Notably, Jeonbuk Bank opted for stablecoin exchanges within its own custody system rather than relying on an external cross-chain bridge. The test also covered cross-border settlement and payment through a local bank, setting the stage for potential integration with Bravo Korea, the bank's service for foreign residents.