TechSBI and Kyobo Life test yen-to-won stablecoin route without the dollar
The proof of concept used test tokens on Canton Network, not live stablecoins, to model institutional transfers between Japan and South Korea.
TLDR
Japan's SBI Digital Practice and South Korea's Kyobo Life completed a proof of concept for converting a yen-denominated stablecoin representation directly into a won-denominated one without an intermediate U.S.-dollar conversion. The project, which began in July, used test tokens in Canton Network's test environment. No live stablecoins or institutional money moved. Kyobo says the model could simplify cross-border settlement and reduce time and costs, but the companies published no comparative savings figures or production launch date.
Combined views
32.1K
1 Source, first seen 11h ago
SBI and Kyobo Life test yen-to-won stablecoin route without the dollar
The proof of concept used test tokens on Canton Network, not live stablecoins, to model institutional transfers between Japan and South Korea.
TLDR
Japan's SBI Digital Practice and South Korea's Kyobo Life completed a proof of concept for converting a yen-denominated stablecoin representation directly into a won-denominated one without an intermediate U.S.-dollar conversion. The project, which began in July, used test tokens in Canton Network's test environment. No live stablecoins or institutional money moved. Kyobo says the model could simplify cross-border settlement and reduce time and costs, but the companies published no comparative savings figures or production launch date.
