.Hedera deepens its EVM capabilities with stablecoin pilot
The Shinhan stablecoin testing has a lot of goals, all encapsulated in the desire to rectify some of the core pangs associated with cross-border payments. These pangs include delayed settlement times, high costs of transactions and the absence of avenues to track the payment.
The goal of the pilot test was achieved as Shinhan Bank said it was able to issue tokens that are denominated in local currencies and permit users to send and receive funds at lower fees than current alternatives.
The Shinhan Bank and Hedera pilot were EVM compatible, a feature that is billed to permit third-party stablecoin issuers to participate in the future.There is a growing clamor for stablecoins in different countries and organizations around the world. With their defined peg against the United States Dollar or any fiat current whatsoever, they generally offer a more flexible means to conduct transactions.
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