Ripple partner SBI Holdings has signed a strategic agreement with South Korea’s Kyobo Life Insurance Group to expand cooperation in security token offerings (STOs) and digital finance. Companies will work to create new business opportunities in the digital space.
The companies are expanding their collaboration following success in the venture capital and fintech sectors, including the venture capital fund in Southeast Asia. STO is a type of public offering in which tokenized digital securities, also known as security tokens, are issued against specific assets. They use blockchain technology to improve the transparency and accessibility of traditional investment products.
Ripple and SBI are collaborating in several areas including supply chain, remittances and mobile payment applications. SBI has started issuing NFT World Expo 2025 on the XRP Ledger. Besides Ripple, SBI has set up partnerships with other companies such as Circle, Chiliz, Standard Chartered and others.