SuhoAIo and IBK Industrial Bank Complete Joint Concept Verification of Blockchain-Based Instant Overseas Remittance Infrastructure

SuhoAIo Co., Ltd. (CEO Park Ji-soo), a company specializing in distributed ledger-based infrastructure, announced on the 1st that it has successfully completed a proof of concept (PoC) to verify the technical feasibility of a blockchain-based instant overseas remittance infrastructure in collaboration with IBK Industrial Bank.

This demonstration was conducted as part of IBK Industrial Bank's open innovation testbed, 'IBK First Lab.' From December 2025, the two companies designed and implemented a ledger-based overseas remittance structure in a sandbox environment for about five months, confirming the results through a final demonstration in April 2026.

Overseas remittances have varying processing times and costs depending on the processing routes, currencies, and bank-specific processes. However, due to the structural characteristics of routing through multiple foreign exchange banks, issues such as pre-funding burdens and liquidity inefficiencies caused by fragmented nostro/bostro wallet operations have been pointed out as common challenges.

By utilizing SuhoAIo's payment and settlement platform, 'Suho Partner Hub,' a programmable integrated liquidity wallet was implemented, allowing banks to manage funds distributed across multiple countries and currencies as a single wallet and move them instantly when needed. This enabled the following: ▲ Flexible adjustment of pre-funding situations that were previously fixed by currency, ▲ Real-time linkage of instantly tradable liquidity supply infrastructure, and ▲ Confirmation that on-chain wallets scattered across multiple chains and institutions can be managed from a single interface.

In this proof of concept (PoC), both companies quantitatively confirmed significant improvements in three key indicators: speed, cost, and transparency. The remittance processing time was verified to have been reduced from the existing 1-2 business days (T+1~2) to less than one minute. The total cost rate is estimated to be reduced by 60-70%, from approximately 5-6% to around 1-2%. Additionally, it was confirmed in the proof of concept (PoC) that all transactions are permanently recorded on the blockchain (transaction hash), allowing for real-time tracking and immutable proof across all stages.

Key Achievements Summary

• Fund Management: Improved from individual pre-funding by country and currency to integrated liquidity pool-based flexible operations.
• Wallet Management: Unified management from fragmented on-chain nostro/bostro wallets to a single interface.
• Execution Infrastructure: Improved from sequential integration of individual foreign exchange networks to integrated infrastructure for instant transactions.
• Processing Speed: Reduced from 1-2 business days (T+1~2) to less than one minute.
• Transaction Tracking: Improved from limited tracking to on-chain real-time tracking.

※ The processing speed (less than one minute) is based on actual measurements from the April 2026 demonstration for IBK, and results may vary depending on individual banks, currencies, and routes. Cost-related figures are estimates based on demonstration conditions and may vary upon actual commercialization.

The technical foundation of Suho Partner Hub, Aegis, is an open network that compares exchange rates and transaction conditions of global financial institutions to find the optimal transaction route. Aegis's key differentiator lies in its 'Solver Network,' where multiple liquidity providers (LPs) present competitive quotes in real-time, automatically selecting the lowest cost and optimal exchange rate combination for immediate settlement on-chain, transforming the opaque exchange rate practices previously unilaterally presented by banks into a competitive, transparent exchange rate. This allows both customers and banks to secure the most favorable exchange rates. Additionally, the Partner Hub's foreign exchange (FX) console is designed to automatically generate transaction messages compliant with international remittance standards (ISO 20022 pacs.008 and existing SWIFT MT103) upon transaction completion, maintaining compatibility with existing bank internal systems while recording on-chain reference numbers for immutable proof.

This demonstration implemented a remittance structure from Korean Won (KRW) to US Dollar (USD) targeting IBK Industrial Bank's personal overseas remittance service. The Partner Hub's foreign exchange (FX) console is designed as a universal structure that is not dependent on specific currencies or banks, allowing for expansion to multiple currencies such as Euro (EUR), Japanese Yen (JPY), Singapore Dollar (SGD), and new remittance corridors (Corrido). This indicates scalability that allows not only IBK Industrial Bank but also other financial institutions facing similar structural challenges to quickly apply this to their overseas remittance services. Meanwhile, in this proof of concept (PoC), the core transaction flow was implemented in actual operation, while areas requiring external institution integration for customer verification (KYC/AML) and notification to receiving institutions were handled through simulation.

Both companies plan to review the possibility of transitioning to commercialization through actual system integration and regulatory responses, as they have sufficiently proven the technical feasibility in this first proof of concept (PoC). Furthermore, SuhoAIo plans to expand similar demonstrations targeting domestic and foreign financial institutions considering improvements to overseas remittance infrastructure based on this achievement.

CEO Park Ji-soo of SuhoAIo stated, "This proof of concept (PoC) with IBK Industrial Bank is a significant achievement in verifying the technical feasibility of a blockchain-based instant overseas remittance infrastructure in Korea. We will create a next-generation foreign exchange infrastructure that allows both small and medium-sized enterprises and individual customers to use overseas remittances faster and cheaper, based on the strengths of the Partner Hub, which integrates messaging, execution, and settlement and transparently records the entire process on-chain through the Aegis network."