[SBI and Kyobo Life Complete Yen-to-Won Test Token Cross-Border Settlement Pilot, Bypassing the US Dollar] Odaily Planet Daily reports that SBI Digital Practice, a subsidiary of SBI Holdings' Canton business, and South Korean life insurance company Kyobo Life have completed a cross-border pilot. In the Canton Network test environment, yen-pegged test tokens were directly exchanged for won-pegged test tokens. The pilot covered the full process of cross-border transfer, exchange, settlement, receipt, and holding of digital tokens, with funds transferred from Japan to South Korea without going through a US dollar conversion. Kyobo Life stated that this is the first time South Korea's insurance industry has validated the full process of institutional funds' cross-border transfer, exchange, and settlement. Both parties plan to further collaborate on digital asset exchange, overseas investment, asset management, and tokenized asset transfers. Kyobo Life also tested the processes for receiving, storing, and managing digital assets and related settlement funds in South Korea. (Bitcoin.com News)