NH NongHyup Bank has successfully completed the pilot of blockchain-based cross-border payments, conducted via Partior’s blockchain platform. In the pilot, J.P. Morgan acted as both the beneficiary and settlement bank.
Used by the world’s leading banks, Partior’s blockchain solutions are built to integrate with core banking systems, offering 24/7, always-on capabilities to ensure efficient real-time settlement with finality.
The pilot marks the first instance in Korea where a financial institution tested a blockchain payment network that is already in commercial use by leading global banks, including J.P. Morgan, DBS, Standard Chartered, and Deutsche Bank.
NH NongHyup Bank executed transactions based on realistic cross-border payment and foreign currency liquidity management scenarios for the Korean market, validating key technical capabilities such as system interoperability, message processing accuracy, and real-time settlement functionality. The pilot was conducted as a technology validation exercise using simulated data, without involving actual fund transfers or customer information.
The results confirmed that blockchain-based payments can be implemented reliably within Korea’s current regulatory environment. Partior’s live network already has proven capabilities across USD, EUR, and SGD in commercial use across the U.S., Europe, Asia, and the Middle East.
NH NongHyup Bank also noted that, as Korea establishes stablecoin regulations in the future, the network could interoperate with a broader range of digital settlement instruments, demonstrating meaningful potential for technical scalability.
A representative from NH NongHyup Bank stated, “Our collaboration with Partior has laid the groundwork for building a blockchain-enabled payment ecosystem. We expect that, once operationalised, this model could significantly reduce structural inefficiencies inherent in the current system.”
Humphrey Valenbreder, Chief Executive Officer of Partior, said, “We’re super excited to partner with NH NongHyup Bank in a historic first for Korea’s wholesale settlement ecosystem. We look forward to our continued partnership to offer the precision of real-time finality and operational efficiency that will be a strategic advantage for NH NongHyup Bank.”
Based on the outcomes of the pilot, NH NongHyup Bank plans to advance discussions toward production-level deployment in Korea. The bank will also strengthen collaboration with major global financial institutions as it moves toward building a Korea-led blockchain-based cross-border payment infrastructure.
