Sh Suhyup Bank to trial Infiniblok blockchain solution for prepaid funds verification
- —Sh Suhyup Bank joins a one-year regulatory sandbox test of Infiniblok's solution
- —The system records issuance, top-ups and usage of prepaid funds on blockchain
- —The depository bank provides real-time account and balance data
- —It verifies that issued balances do not exceed deposit or trust amounts
Why it matters: The pilot shows how Korean banks are adopting blockchain to oversee prepaid funds, potentially accelerating legalization of such services.
Source: Digital Today