Ripple-partner SBI Holdings has entered a strategic agreement with South Korea’s Kyobo Life Insurance Group to expand their cooperation into the securities token offering (STO) business and digital finance. The companies will work to unlock new business opportunities in the digital space.
SBI Holdings and Kyobo Life Insurance Explore New Opportunities
Japan’s SBI Group and South Korea’s Kyobo Life Insurance Group announced a strategic business partnership agreement on July 4. The companies are extending their collaboration after success in venture capital and fintech sectors, including a venture capital fund in Southeast Asia.
SBI and Kyobo will explore establishing a digital financial ecosystem in Korea and working with others on the Security Token Offering (STO) business. An STO is a type of public offering in which tokenized digital securities, known as security tokens (STs) are issued based on specific assets. It uses blockchain technology to improve transparency and accessibility to traditional investment products.
In addition, they will jointly identify opportunities in the issuance and distribution of ST and conduct joint research. Kyobo’s STO business Kyobo Securities will help both companies in the STO business.
“This partnership with SBI is significant in that it aims to provide better products and services to customers in a timely manner by building a wider network in the digital finance sphere,” said a Kyobo Life official.
Also Read: Crypto Crackdown By South Korea To Delay Global Crypto Market Recovery, Here’s Why
SBI Expands Into Different Areas
Ripple and SBI have a number of collaborations in areas including supply chain, new remittance corridors, and mobile payment applications. CoinGape recently reported that SBI has started minting the World Expo 2025 NFTs on the XRP Ledger, bringing XRP and NFTs in the spotlight to 28.2 million people at the upcoming World Expo in Japan.
SBI has partnered with other companies such as USDC-issuer Circle Internet Financial, Chiliz, Standard Chartered, and more to create business opportunities in various fields.
Also Read: Mt. Gox Activates Wallets Ahead $9B Bitcoin & BCH Payout, What’s Next?
The post Ripple-Partner SBI Enters Security Tokens Offering (STO) Business appeared first on CoinGape.
Earn more PRC tokens by sharing this post. Copy and paste the URL below and share to friends, when they click and visit Parrot Coin website you earn: https://parrotcoin.net0
PRC Comment Policy
Your comments MUST BE constructive with vivid and clear suggestion relating to the post.
Your comments MUST NOT be less than 5 words.
Do NOT in any way copy/duplicate or transmit another members comment and paste to earn. Members who indulge themselves copying and duplicating comments, their earnings would be wiped out totally as a warning and Account deactivated if the user continue the act.
Parrot Coin does not pay for exclamatory comments Such as hahaha, nice one, wow, congrats, lmao, lol, etc are strictly forbidden and disallowed. Kindly adhere to this rule.
Constructive REPLY to comments is allowed