KoBo Life and SBI Group Verify Cross-Border Institutional Fund Transfer Using Digital Tokens

KoBo Life and Japan's SBI Group have verified a cross-border institutional fund transfer structure from Japan to Korea using digital tokens, marking the first such verification in South Korea's insurance industry, according to Yonhap Infomax. The test utilized the 'Canton Network (CC)', a blockchain for financial institutions. In this demonstration, they tested a direct conversion of JPY stablecoins to KRW stablecoins without going through USD, verifying the structure using tokenized assets.