Suhyup Bank and SOOHO.IO begin FX remittance proof of concept on Partior

SOOHO.IO, a Seoul-based digital asset infrastructure company, and Suhyup Bank have launched Project Namsan Phase 2, a proof-of-concept programme testing cross-border foreign exchange remittance settlement on Partior’s multi-currency tokenised deposit network. Announced on 11 November 2026, the programme is explicitly not a production service; it is a structured trial in which Suhyup Bank becomes the first Korean bank to run live flows on Partior’s rail, which already settles commercial volumes in US dollars, euros, and Singapore dollars. Additional Korean financial institutions are described as being in talks to join.

The exercise is designed to give Korean institutions direct operational exposure to an international settlement rail rather than theoretical familiarity with it. FX and remittance teams at participating banks will work through the full payment lifecycle, from initiation to settlement finality, including exception handling. That granular, internal evidence base is the stated goal: institutions that complete the trial will have documented their own experience of Partior’s settlement framework ahead of any future regulatory or policy changes in Korea.

The timing is deliberate. The Bank of Korea’s Project Hangang, now in its second phase, is advancing a domestic tokenised deposit framework focused on small-value payments. Partior’s scope sits at the cross-border, interbank layer, so the two efforts are complementary rather than duplicative. The source notes that Korean won is not live on Partior today, but a successful proof of concept would lay the groundwork for testing settlement flows that include a KRW leg. The arc from Phase 1, which covered domestic payments, to Phase 2 and its cross-border focus suggests SOOHO.IO is sequencing Korean institutions toward eventual integration with global rails, with this pilot as an intermediate validation step.