"Ripple Custody replaces the traditional two-day settlement process for government bonds with on-chain execution, allowing both the bond and payment to settle simultaneously, thus minimizing risks and freeing up capital for institutions."
"The partnership with Kyobo Life Insurance not only focuses on custody but also explores stablecoin-powered payments, enabling transactions to occur around the clock without waiting for banks to open."
Ripple has partnered with Kyobo Life Insurance to pilot Korea's first tokenized government bond settlement using Ripple Custody. This collaboration aims to reduce the standard two-day settlement cycle to near real-time. The partnership also facilitates stablecoin-based payment systems, with Ripple's RLUSD stablecoin already operational on Coinone. The project, which has been in development since September 2024, is currently in a trial phase. Financial regulators in Korea are observing the project to learn from the U.S. stock settlement cycle reduction.
Read at 24/7 Wall St.
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