SOOHO.IO, a digital asset infrastructure company, and Suhyup Bank have started a proof of concept for foreign exchange remittances on Partior. The effort is called Project Namsan Phase 2. It uses tokenised commercial bank deposits for cross-border settlement.
How the test works
Korean institutions will run the full payment flow from initiation to settlement finality. Their FX and overseas remittance teams will also examine daily exception cases. The exercise gives participants hands-on experience on a live network.
Tokenised deposits and Partior
Partior is production-live in USD, EUR, and SGD. It settles using tokenised commercial bank deposits and uses ISO 20022 messaging. A tokenised deposit is a bank deposit represented on a blockchain, not a newly issued stablecoin.
Korean market context
Separate domestic work under the Bank of Korea's Project Hangang focuses on small-value payments. Partior covers international settlement between banks, so the scope is different. The test may help institutions build an internal evidence base for future rule changes.
If validation goes well, Korean institutions could test tokenised deposit FX remittances between local banks. Future tests could include a KRW leg under near real-world conditions. KRW is not live on Partior today.