KYOBO LIFE

Announced

Financial Institution

Korean life insurer testing yen-won stablecoin settlement on Canton with SBI

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Overview Features Team FAQ Connected Related

KYOBO LIFE on Canton

Kyobo Life and SBI Group completed a Korea-Japan stablecoin-based cross-border proof of concept, which began in July and used a Canton Network test environment. The test used test tokens, and no insti

About KYOBO LIFE

Kyobo Life Insurance is one of South Korea’s three largest life insurers, founded in 1958. It is an equity-method affiliate of SBI Holdings. It describes itself as the first South Korean insurer to test the full process of an institutional cross-border transfer using stablecoins.

Features

What the product does

Korea-Japan Stablecoin Cross-Border PoC.

A direct exchange between yen and won stablecoin representations, without using the US dollar as an intermediary, tested end to end on a Canton Network test environment.

Efficiency Findings.

The project confirmed reduced processing times and cost savings in the test environment.

Planned Expansion with SBI.

Kyobo Life plans to expand cooperation with SBI Group and respond proactively to changes in Web3 financial infrastructure.

KYOBO LIFE Team

Shin Chang-jae

Chairman & CEO

KYOBO LIFE FAQ

Kyobo Life is an equity-method affiliate of SBI Holdings and ran the proof of concept with SBI Digital Practice, SBI’s subsidiary focused on Canton Network projects.

No. It completed a proof of concept in a Canton test environment using test tokens, and no institutional funds were moved.

Connected Projects

sbi-digital-practice

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