Park Seo-yeon

Banking and payments coverage at CJSOI. Topics include settlement, custody and the costs of moving money across borders.

Latest

Flow diagram: a customer's USDC deposit passes through a liquidation address and arrives as USD in the customer account, followed by a treasury transfer

Stablecoins · Oct 31

Stablecoin-to-USD Settlement: From Deposit to Treasury

How a USDC liquidation address, customer account and treasury transfer form a stablecoin-to-USD settlement flow.

Diagram of one balance in two bank ledgers: nostro, our account with you, and vostro, your account with us, linked by arrows for account, statement and reconciliation

Banking · Oct 31

Nostro vs Vostro Accounts: One Balance, Two Bank Ledgers

Why nostro and vostro are two views of one correspondent account, and how banks reconcile the balance.

Black-and-white timeline of a settlement account balance: a payment of 500 at 09:30 pushes it below zero, the gap is bridged by intraday credit, and a receipt of 600 at 11:00 leaves it at +100 by the close.

banking · Oct 30

Intraday Liquidity: How Banks Fund the Payment Day

Why a bank can be liquid at day-end but still need funds before a payment deadline.

Diagram comparing gross and net settlement: on the left, banks A and B exchange two separate payments; on the right, the obligations are offset into one net position from A to B.

payments · Oct 30

Gross vs Net Settlement: How Payment Systems Move Money

Gross settlement moves each payment; net settlement offsets obligations before money moves.

Monochrome operating map for a business stablecoin payment: customer, checkout, processor and ledger, with asset, network, amount and status checks.

stablecoin payments · Oct 29

How Businesses Accept Stablecoin Payments

Choose a stablecoin payment route, define confirmation and refund states, and reconcile every order.

CJSOI diagram showing a stablecoin payment moving from seen to confirmed to finalized, with the reminder that a balance update is not final settlement

stablecoin payments · Oct 28

Stablecoin Payment Confirmations and Finality

Learn how pending, confirmed and finalized stablecoin transfers differ across Ethereum and Solana.

Diagram of HSBC RedCoin (RCHKD): the HKMA licence, HSBC as issuer and the PayMe wallet used for P2P transfers and merchant payments, with the October 23, 2026 launch and the HSBC HK App and tokenised investments planned later in 2026

HSBC · Oct 25

HSBC RedCoin Goes Live on PayMe as HSBC's HKD Stablecoin

HSBC's HKMA-licensed Hong Kong dollar stablecoin, RedCoin (RCHKD), went live on PayMe on October 23, 2026.

A stablecoin refund record links back to the customer's original wallet; its request and processing status remain separate.

Payments · Oct 25

Stripe Stablecoin Refunds: Wallets, Amounts and Status

Where Stripe stablecoin refunds go, how partial amounts add up and what the saved status actually establishes.

Three US payment rails connecting FedNow, RTP and ACH nodes

FedNow · Oct 24

FedNow vs RTP vs ACH: How US Bank Payments Move

FedNow and RTP settle instantly; ACH moves credits and debits in batches. Compare reach, timing and finality.

Diagram of Arf's RLUSD settlement liquidity on the XRP Ledger: Arf lends RLUSD to a licensed payment firm, the payout settles and the loan is repaid in one to five days, with XRPL vault and lending amendments XLS-65 and XLS-66 as a later phase

RLUSD · Oct 22

Arf Brings RLUSD Settlement Liquidity to Payment Firms on the XRP Ledger

Arf will lend RLUSD on the XRP Ledger to licensed payment companies, repaid in one to five days as payments settle.

Fedwire gross settlement and CHIPS netting paths compared

Fedwire · Oct 22

Fedwire vs CHIPS: How High-Value Dollar Payments Settle

Fedwire settles payments one by one; CHIPS uses liquidity-saving netting. Here is what that changes in practice.

Monochrome UETR diagram showing one 36-character payment reference passed between originating and beneficiary banks

UETR · Oct 21

UETR Payment Tracking: How Banks Trace a Swift Transfer

How a 36-character UETR helps banks trace a Swift payment—and what it cannot prove.

Bar diagram of the minimum share of an EU e-money token reserve held as bank deposits, 30% for all issuers and 60% for significant tokens as described by Circle, with two figures below: $3.3 billion of USDC reserve cash at Silicon Valley Bank in March 2023, about 8% of the reserve, and the EBA's 1.5% cap on reserve exposure to one bank.

Banking · Oct 20

Stablecoin Reserves in Bank Deposits: Why Issuers Hold Cash at Banks

Redemptions are paid in bank money, so issuers keep part of the reserve at banks. MiCA sets a minimum; March 2023 showed the risk.

A monochrome stablecoin checkout flowing from a customer wallet through a payment processor to a business balance

Payments · Oct 16

How Businesses Accept Stablecoin Payments

A stablecoin checkout needs a payment intent, supported chain, settlement record, refund policy and reconciliation.

Diagram of Visa Direct USDC prefunding: a 24-hour bar compares bank-transfer funding windows with USDC top-ups at any hour, then USDC in, Visa converts, USD balance, payouts to 180+ countries, with Inyo Global as first enabler

Visa · Oct 15

Visa Direct Stablecoin Prefunding Moves to Production With USDC

Visa Direct clients on Inyo Global's platform can now prefund cross-border payouts with USDC in near real time.

Diagram: RLUSD on the XRP Ledger held in Standard Chartered custody, with its value mirrored to LMAX as planned collateral while the token itself is not transferred

Standard Chartered · Oct 13

Standard Chartered Launches RLUSD Custody, Plans LMAX Collateral Link

Standard Chartered now holds Ripple's RLUSD stablecoin on the XRP Ledger for institutional clients through its DIFC branch, and plans to let LMAX accept it as collateral without moving the tokens.

Three-column comparison of a stablecoin, a CBDC and a tokenized deposit: the issuer is a private company, a central bank or a commercial bank; the backing is reserve assets, no separate reserve or the bank's balance sheet; the holder's claim is on the issuer, the central bank or the bank.

Banking · Oct 11

Stablecoin vs CBDC vs Tokenized Deposit: Who Issues It and What Backs It

Three kinds of digital money, three different debtors: a private issuer, a central bank or a commercial bank.

Payment versus payment links the final transfers of two currencies; funding and replacement risks remain.

Payments · Oct 9

Payment Versus Payment: What PvP Removes from an FX Trade

Conditional currency settlement reduces principal risk. It still leaves funding, replacement and operational questions.

Correspondent banking roles: respondent, deposit-holding correspondent and settlement arrangements.

Banking · Oct 9

Correspondent Banking: How Banks Use Other Banks to Pay

The accounts and bank relationships behind cross-border settlement, and the risks a payment message cannot remove.

Ledger-style diagram of an SAP Pay stablecoin payment: invoice, payment run, USDC for US dollars or EURC for euros, and an end-of-day CAMT.053 statement

Circle · Oct 7

SAP Pay Adds USDC and EURC Through Tereina and Circle

SAP Pay, run by SAP-backed Tereina, can pay invoices in USDC for dollar workflows and EURC for euro ones, with the payment reconciled inside SAP Cloud ERP.