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Ripple has partnered with Kyobo Life Insurance to pilot tokenized settlement of Korean government bonds using Ripple Custody, with the stated goal of shortening Korea’s standard T+2 settlement cycle to near real-time.
The agreement is described as a strategic pilot rather than full production. In addition to testing tokenized bond settlement, the parties will assess the technical and regulatory feasibility of broader tokenized treasury settlement.
Ripple also said Kyobo will explore stablecoin-based payment rails through Ripple as part of the pilot. The announcement did not specify the stablecoin to be used or any timelines for those components.
Ripple and Kyobo did not provide transaction sizes, a go-live date, or which specific Korean government bond series would be settled on-chain.
The Kyobo deal adds to institutional tokenization efforts across Asia. The article notes that regulators in Korea, Japan, Hong Kong, and Singapore have moved faster than U.S. counterparts in establishing frameworks for regulated digital asset activity.
In Korea, payment providers have been licensed for remittance since 2017. The article also points to recent regulatory movement toward won-denominated stablecoins.
For Ripple, the Kyobo partnership extends its push into Asian institutional infrastructure. The article links the acceleration to the period after the U.S. SEC dropped its lawsuit against the company in 2024.
Over the past 18 months, Ripple has announced custody and payment partnerships across Japan, Singapore, and the UAE, positioning Ripple Custody as a settlement layer for regulated financial institutions rather than a retail-facing product.
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