Kyobo Life and SBI Group complete cross-border stablecoin exchange test

Kyobo Life and SBI Group have successfully completed a pilot project for cross-border stablecoin exchange between the South Korean won and the Japanese yen. The test, conducted on the Canton Network, demonstrated the feasibility of direct exchange without the need for a US dollar intermediary. The trial utilized test tokens and focused on validating technical processes for cross-border fund transfers, exchange, and settlement. Both companies intend to explore further collaborations in digital asset exchange, asset management, and Web3 financial services.