SBI, Nodeinfra Launch Cross-Border Stablecoin Testing with Test Tokens
SBI Group and Korean blockchain infrastructure firm Nodeinfra are working together to create a cross-border payment network linking Japanese and Korean financial institutions.
The project, called Project Musubi, will use test tokens with no real value attached before shifting towards fully regulated stablecoins once legal frameworks in Japan and South Korea permit it.
The initial testing phase will rely on yen and won test tokens. SBI Digital Practice connects Japanese financial institutions to the network, while Nodeinfra develops the settlement protocol and supports Korean partners.
The project's planned architecture leans on the Canton Network to enable atomic payment-versus-payment settlement, distributed peer netting, and member self-governance.