Toss and Kyobo Life partner on digital asset services

Toss and Kyobo Life Insurance have signed a memorandum of understanding (MOU) to collaborate on building a digital asset ecosystem and developing new financial services. The partnership aims to explore how digital assets can be integrated into insurance and broader financial sectors while establishing standard models that comply with existing regulations.

The two companies will engage in information exchange and conduct joint proof-of-concept (PoC) testing. The collaboration seeks to combine Toss’s platform and payment infrastructure, which serves 30 million users, with Kyobo Life’s expertise in asset management and risk management.

Kyobo Life has previously explored blockchain applications, including participating in Circle’s Arc testnet and conducting PoCs with Ripple. The company also recently established a dedicated digital asset organization to prepare for new businesses involving security tokens (STO) and real-world assets (RWA).