Danal Fintech and BNK Busan Bank completed the second technical verification (PoC) of a Korean won stablecoin platform on the 22nd, according to an announcement by Danal Fintech, the blockchain subsidiary of Danal. The two companies verified processing speed and stability required for commercial service, following earlier PoC rounds that confirmed the stablecoin could function as a payment method. The verification was conducted on Danal Fintech's SaaS-based stablecoin platform IEUM, with BNK Busan Bank designing a stablecoin model reflecting local currency structures and testing core functions including charging, payment, refund, remittance, and settlement.
Danal Fintech Deploys Dedicated Avalanche Subnet to Improve Transaction Performance
The first PoC identified high per-transaction fees and delayed payment times as limitations. The second PoC focused on resolving these issues. Danal Fintech built a dedicated Subnet instead of using the Avalanche public network (C-Chain), creating an independent transaction processing environment that reduced external network impact and transaction information exposure risk.
Payment response time was reduced from an average of 2 seconds to 0.3 seconds. Stress tests with dozens of simultaneous transactions processed all transactions without failure. Transaction fee burden was significantly reduced.
Danal Fintech provided BNK Busan Bank with a dedicated test application and administrator dashboard. BNK Busan Bank directly designed the stablecoin implementation model and verified major functions.
Danal Fintech Plans Third PoC for Account and Offline Integration
A Danal Fintech representative stated that the first PoC confirmed the technical feasibility of Korean won stablecoin payments, while the second PoC verified processing speed and stability needed for commercial service. The representative added that the company plans to pursue account and offline integration through a third PoC, and will continue verification to enable immediate commercialization after relevant laws and regulations are established.
FAQ
What did Danal Fintech and BNK Busan Bank complete on the 22nd?
Danal Fintech and BNK Busan Bank completed the second technical verification (PoC) of a Korean won stablecoin platform on the 22nd. The verification tested processing speed and stability required for commercial service using Danal Fintech's SaaS-based platform IEUM.
How did the second PoC improve transaction performance compared to the first PoC?
The second PoC reduced payment response time from an average of 2 seconds to 0.3 seconds by deploying a dedicated Avalanche Subnet instead of the public C-Chain. Stress tests with dozens of simultaneous transactions processed all transactions without failure, and transaction fees were significantly reduced.
What are Danal Fintech's plans after completing the second PoC?
Danal Fintech plans to conduct a third PoC to pursue account and offline integration. The company stated it will continue verification to enable immediate commercialization after relevant laws and regulations are established.
