Sooho.io, a South Korean digital asset infrastructure firm, and Suhyup Bank began a proof of concept on Partior’s cross-border settlement network to test foreign exchange remittances under Project Namsan Phase 2.

The test will involve Suhyup Bank’s foreign exchange and overseas remittance teams.

It will cover cross-border payments from initiation to final settlement on Partior, a Singapore-based multi-currency settlement network that uses tokenized commercial bank deposits.

Partior said its network is live for 24/7 atomic settlement, and Emirates NBD enabled payments on it for real-time cross-border US dollar transfers.

The program is not a production service. It follows an August memorandum of understanding between Soohoo.io and Partior, and several other South Korean financial institutions are in talks to join.

🔗 Source: Partior