Shinhan Bank has completed a pilot program for corporate overseas remittances using the Solana blockchain. The project, supported by the Solana Foundation, successfully tested a full payment workflow, including counterparty registration and final settlement, within the bank's existing infrastructure.
A key feature of the trial was the invisibility of the underlying technology. Corporate clients did not interact with crypto wallets or tokens, maintaining their standard banking routines. To ensure data privacy, the bank utilized a private solution on the Solana network for transaction validation.
This initiative is separate from a retail stablecoin payment project launched by the bank's subsidiary, Shinhan Card, on April 30, 2026. The bank is currently evaluating the technical performance and operational viability of the corporate system.
The commercial launch of the service remains contingent on South Korea's Digital Asset Basic Act, which is currently under development. Shinhan Bank plans to assess the potential for a real-world service rollout once the legal framework for digital assets is finalized.
