Kyobo Life, SBI Group form digital finance alliance

Both parties are looking into distributing security token offerings.

Korea’s Kyobo Life Insurance Group and Japan’s SBI Group have announced a partnership to enhance cooperation in digital finance and technology.

Since 2022, the two companies have collaborated in venture capital and fintech, including a venture capital fund in Southeast Asia.

The partnership will facilitate the exchange of technological expertise and open new business opportunities in the digital space.

This includes creating a domestic digital financial ecosystem in Korea and working with consortiums for Security Token Offering (STO) businesses.

STOs, based on specific assets and using blockchain technology, improve transparency and access to traditional investment products.

Kyobo Life and SBI Group plan to jointly explore opportunities in issuing and distributing STOs and conduct joint research.

Business synergies are also anticipated with Kyobo Securities, which operates Kyobo Life’s STO business.

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