4 hours ago
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Key Takeaways
- Toss Bank signed an MoU with the Solana Foundation to test cross-border remittances.
- The proof-of-concept targets faster, cheaper transfers for its 15 million users.
- Rival KBank is running a parallel pilot on Ripple’s Palisade infrastructure.
- The move arrives as South Korea finalizes new digital asset rules.
The agreement, a memorandum of understanding signed in Seoul on June 19 and disclosed June 22, sets up a phased proof-of-concept rather than a live product. While this is currently a technical pilot, not a consumer feature, it matters because it targets the hidden costs of traditional banking. Cross-border transfers through correspondent banking can take days and stack fees at each intermediary bank along the chain. By using stablecoins on Solana, Toss Bank is testing whether it can bypass those intermediaries enti...
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