South Korea’s KB Financial Completes Stablecoin Pilot for Offline Payments
Cointelegraph
KB Financial Group has successfully completed a stablecoin pilot for offline payments and cross-border remittances using the Kaia blockchain.Summary
KB Financial Group, parent of South Korea's largest bank, KB Kookmin, has successfully completed a stablecoin pilot program. Conducted on the Kaia blockchain in partnership with KG Inicis and OpenAsset, the test demonstrated successful won-denominated stablecoin issuance, merchant settlements, and cross-border transfers. Notably, the pilot achieved an 87% reduction in remittance fees compared to the traditional SWIFT network, completing a transfer to Vietnam in under three minutes. The company plans to scale these services once South Korea establishes formal digital asset regulations.
(Source：Cointelegraph)