Blockchain Remittance System to Be Tested by Dunamu, Hana Financial Group, and POSCO International

Dunamu, Hana Financial Group, and POSCO International have entered into a memorandum of understanding (MoU) to explore the use of blockchain technology for remittance systems in real trade transactions. According to NS3.AI, POSCO International will be the first to implement this system in live transactions. The collaboration follows a successful proof of concept that demonstrated reduced settlement times and costs compared to the traditional SWIFT-based process. The companies aim to develop a functional model for real-time blockchain remittances by the end of the year.