South Korea
Digital Asset
Kyobo Life and SBI Conduct Pilot for Direct Yen-Won Stablecoin Conversion
- Kyobo Life and SBI Group completed a Korea-Japan stablecoin-based cross-border pilot project that began in July.
- The pilot verified direct conversion between yen and won stablecoins, bypassing the US dollar, for transferring institutional funds from Japan to Korea.
- The test used Canton Network, a blockchain platform for financial institutions, in partnership with SBI Digital Practice.