Kyobo Life Signs Agreement with Toss for Development of Virtual Asset Financial Services

Kyobo Life has signed a memorandum of understanding (MOU) with Viva Republica, the operator of Toss, to develop financial services utilizing virtual assets. The signing ceremony took place on the 12th at Kyobo Life's headquarters in Jongno-gu, Seoul, attended by Kyobo Life Vice President Park Jin-ho and Toss Deputy CEO Kim Kyu-ha. The two companies aim to establish a foundation for the joint development of financial services using digital assets, specify the utilization methods of digital assets, and set up related standard models through technology verification (PoC). Kyobo Life plans to target the digital asset demand of various customer segments by combining its financial service experience with Toss's digital financial platform. Vice President Park Jin-ho stated that they will provide innovative and reliable financial services. Kyobo Life has been expanding its business related to digital assets recently, and in December last year, it participated in the public testnet of Circle's blockchain network 'Arc', a U.S. stablecoin issuer. Additionally, it conducted a PoC with Ripple to shorten the settlement time for government bond transactions and verified the feasibility of implementing premium collection and claim payment services using a Korean won stablecoin in June.

This content is provided for general informational purposes only and doesn't constitute financial, investment, legal, or tax advice. Any events, rewards, online promotions, or related information mentioned herein should not be considered a recommendation, solicitation, or invitation to purchase, sell, trade, or otherwise deal in any crypto assets. Crypto assets are highly volatile and may result in loss. The availability of WEEX services, products, and related events may vary by region. You are responsible for ensuring that your participation is in accordance with applicable local laws and regulations.