Shinhan Bank Tests Stablecoin Remittance Service on Solana

Korean banking giant Shinhan Bank has successfully completed a proof-of-concept for corporate overseas remittances using stablecoins on the Solana network.

The pilot, which ran from April to September, allowed Shinhan to test the technical performance and operational viability of the setup without requiring corporate clients to hold or manage stablecoins directly.

The bank used a private solution on the Solana network to maintain confidentiality while still supporting transparent validation of each transaction.

This effort is part of Shinhan's broader experimentation with Solana, including a separate collaboration between its sister company Shinhan Card and Solana for retail stablecoin payments announced in April.