Ripple Partner SBI Launches Security Token Offering (STO)

Ripple Partner SBI Holdings concluded a strategic agreement with South Korea Kyobo Life Insurance Group The two companies will expand their cooperation in the field of security token offerings (STOs) and digital finance. The two companies will work to open 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 expanding their collaboration after seeing success in the venture capital and fintech sectors, including a venture capital fund in Southeast Asia.

SBI and Kyobo will explore building a digital financial ecosystem in Korea and collaborating with other players in the Security Token Offering (STO) market. An STO is a type of public offering in which tokenized digital securities, called security tokens (STs), are issued based on specific assets. It uses blockchain technology to improve the transparency and accessibility of traditional investment products.

In addition, the two companies will jointly identify ST issuance and distribution opportunities and conduct joint research. Kyobo Securities, Kyobo’s STO business, will assist the two companies in the STO field.

“This partnership with SBI is significant as 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.

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SBI expands its activities in different areas

Ripple and SBI are collaborating in a number of areas, including supply chain, new remittance corridors, and mobile payment applications. CoinGape recently announced that SBI has begun minting World Expo 2025 NFTs on the XRP ledger, putting XRP and NFTs in the spotlight for 28.2 million people at the upcoming World Expo in Japan.

SBI has partnered with other companies like Circle Internet Financial, issuer of USDC, Chiliz, Standard Chartered, and many others to create business opportunities in various domains.

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