Ripple Partners SBI and Kyobo Complete Direct Japan-Korea Stablecoin Transfer Pilot

Ripple’s long-term ally SBI Group and latest partner Kyobo Life Insurance completed the Japan-South Korea stablecoin-based cross-border proof-of-concept project. The firms performed a direct transfer between Japanese yen (JPY) and Korean won (KRW) stablecoins without relying on the US dollar as an intermediary currency.