HH Stablecoin Settlement

Real-time intercontinental settlement using stablecoins

Cross-border transactions can take days to settle.

To expedite this process and its efficiency, Shinhan Bank, the leading bank in South Korea, and Standard Bank, the largest bank in Africa, have united in a proof-of-concept on Hedera. In so doing, the trial looked to reduce the reliance on middlemen, associated costs, and settlement time in the currently $702 billion remittance market.

In this talk, the two Hedera Governing Council members will showcase:

  • Challenges with legacy cross-border payment systems (SWIFT)
  • Proposed stablecoin solution on Hedera
  • A live demonstration of the settlement process

This presentation premiered on YouTube on December 8th at 9pm PST / December 9th at 7am SAST / 2pm KST.

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Andrew (Do Hyung) KimBlockchain Project Manager at Shinhan Bank
SS Alex Headshot
Alex LopesBlockchain Innovation Developer at Standard Bank

Andrew (Do Hyung) Kim

Blockchain Project Manager at Shinhan Bank

Andrew (Do Hyung) Kim is responsible for developing blockchain and IoT services at Shinhan Bank, the Enterprise Blockchain Award Winner for Ecosystem Transformation of 2021. Prior to Shinhan Bank, Andrew worked at Nomura Financials in Seoul, Kore and earned a bachelor's degree in Finance from Bryant University.

SS Alex Headshot

Alex Lopes

Blockchain Innovation Developer at Standard Bank

Alex has over 15 years of experience working with multiple languages, technologies and frameworks within insurance, retail, aviation and banking. Currently, Alex and Standard Bank are working towards becoming a fully digital bank, building new and updating existing rails with distributed ledger technology.



Shinhan Bank to Conduct Stablecoin International Remittance PoC on Hedera Network, in Partnership with Major Multinational Bank