Search results for Institute of International Finance
Finance
KB Kookmin Bank validates deposit token payments with Japan\'s MUFG Bank
KB Kookmin Bank has completed a validation of cross-border payment scenarios using foreign-currency-based deposit tokens with Japan\'s MUFG Bank. It said this was the first time a South Korean commercial bank has tested deposit token payments with an overseas bank. The bank said it carried out the work as part of Project Agora, a global cooperation initiative jointly promoted by the Bank for International Settlements and the Institute of International Finance.
Finance
Korean commercial banks join BIS \'Project Agora\' to verify deposit token payment system
South Korea\'s five major banks - KB Kookmin, Shinhan, Hana, Woori and NH NongHyup Bank - have checked the potential to improve inter-institution payment transactions globally. The banks joined Project Agora, a joint initiative by the Bank for International Settlements and the Institute of International Finance. Participants tested whether blockchain technology and smart contracts can cut costs and time for large cross-border payments while maintaining the legal nature of reserves and deposits.
Crypto
Visa-led crypto card payments surge 230 percent year on year
Crypto card payments are growing rapidly, reshaping competition in the global payments industry. Onchain-based crypto card payments recently hit a record $7.8 billion, with Visa accounting for about 90 percent of transactions. PaymentScan data showed total crypto card payments have risen about 230 percent since May 2025 as users spend stablecoins held in wallets without bank transfers. Visa is expanding stablecoin-linked card programs with Bridge and moving toward onchain settlement.
