🗞️ SBI Group, a partner of Ripple, and South Korea-based Kyobo Life Insurance tested direct transfers between Japanese yen- and Korean won-denominated stablecoins between Japan and South Korea. In the test conducted on the Canton Network’s test environment, transactions were modeled to occur directly between yen and won without passing through the U.S. dollar. No real funds or stablecoins were used in the test. The companies noted that this model has the potential to reduce transaction times and costs by eliminating intermediary steps, while also lowering foreign exchange risk. SBI and Kyobo Life plan to expand their collaboration in the future in areas such as digital asset transactions and asset management. #Ripple #SBIGroup #KyoboLifeInsurance #CantonNetwork #stablecoin