Ripple has teamed up with Kyobo Life Insurance to pilot blockchain-based government bond settlement in South Korea.
Ripple has partnered with Kyobo Life Insurance, one of South Korea’s largest life insurers, to pilot blockchain-based settlement of government bonds, as Seoul moves to formalize rules for tokenized securities.
Ripple Custody, Ripple’s digital asset custody solution, will support the issuance, storage and settlement of tokenized government bonds, the company said in a Wednesday announcement. The companies will also explore tokenized Treasury settlement across Korea’s financial system.
“This partnership is a signal to the broader market that institutional-grade digital asset infrastructure is no longer a future aspiration; it is available, proven, and ready to deploy in Korea today,” Fiona Murray, the managing director for Asia Pacific at Ripple, said.
