Shinhan Bank has implemented the entire process for corporate overseas remittances using stablecoins and verified whether it can be applied to actual operations.

The bank said on Tuesday it completed a proof-of-concept that keeps existing corporate overseas remittance workflows while applying stablecoins to the bank’s payment and settlement processes.

Corporate clients would continue using existing corporate banking services and foreign-currency accounts without using a separate digital asset wallet or stablecoins directly. Transfers and settlement using stablecoins are designed to be handled within the bank’s internal processing systems. The Solana Foundation participated in technical cooperation.

Shinhan Bank reflected the practical requirements of overseas remittance operations at a large South Korean company. It implemented the full process in a test environment, from counterparty registration and internal approval to foreign-currency account verification, execution of remittances, settlement and payment to recipients, and remittance returns.

It also verified a structure that confirms transaction validity while protecting individual transaction information so that key corporate information such as counterparties, transaction amounts and payment details are not exposed externally.

Shinhan Bank plans to review the feasibility of applying the results to an actual service in line with relevant systems and the regulatory environment.

A Shinhan Bank official said the pilot was meaningful because it verified not only stablecoins’ technical performance but also the feasibility of applying a new payment and settlement method within real corporate overseas remittance operations and the bank’s control framework.

The official added that the bank will review related technologies and service application plans so it can provide more efficient overseas remittance services in line with the institutional and market environment.

Separately, Shinhan Bank will run a delivery fee support event for its "Ttaengbaedal" service from Oct. 1 through year-end to mark the achievement of 10 million customers on its food-order brokerage platform "Ttaenggyeoyo". During the event period, Shinhan Bank will fully cover the delivery fee charged to customers when they use Ttaengbaedal.