Proposal: Institutional FX Settlement Infrastructure for Asia.md

OPENPull Request
by Lee-Kim020426-03-2026Incoming
View on GitHub ↗← All Proposals

…nt Infrastructure for Asia.md

FX Layer is the settlement rail for non-USD stablecoin FX. Built for Asian financial institutions, it enables atomic, same-day settlement between non-USD and USD stablecoins by replacing gross, correspondent-driven post-trade workflows with a net-settlement model. The result is lower trapped liquidity, reduced prefunding needs, and a more efficient path to cross-border FX settlement.

The FX Layer team is actively supporting blockchain initiatives for leading Korean financial institutions, including NH Bank, NH Securities, Line Bank and Kyobo Group. Through these collaborations, the team has established strong institutional relationships in Korea and is currently providing POCs to top-tier Korean card companies.

The team is in the process of building and testing the POC, with initial pilots focused on KRW and JPY corridors. The JPY leg will be conducted in collaboration with JPYSC, a stablecoin initiative under SBI Group, while the KRW leg will be developed with KRW1, the first Korean Won stablecoin created in collaboration between BDACS, a licensed VASP in Korea, and Woori Bank, Korea's largest commercial bank.

Development Fund Proposal Submission

Proposal file: Link to the proposal added in this PR (e.g., /proposals/your-proposal-name.md)

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Summary

Briefly describe the proposal and the value it delivers to the Canton ecosystem (2–3 sentences).

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Checklist

  • [ ] Proposal file added under /proposals/
  • [ ] Milestones and funding amounts defined
  • [ ] Acceptance criteria included
  • [ ] Alignment with Canton priorities described

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Notes for Reviewers

(Add anything the Tech & Ops Committee should pay attention to.)