Major South Korean Insurance Company Completes Proof of Concept for Premium Payments Using Won-Denominated Stablecoin

Kyobo Life, one of South Korea's major life insurance companies, announced on the 24th that it has completed a technical verification (Proof of Concept - PoC) for a service that collects insurance premiums and pays out claims using a won-denominated stablecoin, in collaboration with blockchain infrastructure company EQBR. The news was reported by Korea Insurance News. The company has positioned this initiative as a first in the insurance industry. The PoC was conducted over a period of 12 weeks...