Jeonbuk Bank Completes Solana Stablecoin Cross-Border Remittance PoC, Transaction Information Not Publicly Recorded on Chain

Techub News reports that Jeonbuk Bank, under the JB Financial Group of South Korea, in collaboration with the Solana Foundation and Node Infra, has completed a proof of concept (PoC) for stablecoin cross-border remittance. This PoC, conducted in an actual banking environment, successfully linked the processes of Korean won deposit, stablecoin exchange, bank custody, cross-border settlement, and payment by local banks.

The solution utilizes Solana's private channels, where transaction counterparts and amounts are not directly disclosed on the public chain. Only the deposit details and final settlement results are recorded on the public chain. The exchange of stablecoins is also managed by the bank custody system, instead of relying on an external cross-chain bridge.

Jeonbuk Bank plans to integrate this technology with the "Bravo Korea" service aimed at foreign residents in Korea once the relevant regulations are established in Korea. (Edaily)