Kyobo Life Insurance establishes digital asset unit for new blockchain business

Kyobo Life Insurance established a dedicated digital asset organization last month and has begun to detail its related business plans, the Korea Economic Daily reported. The new unit is expected to oversee the development of a mid-to-long-term digital asset roadmap for the entire Kyobo Group. According to company job postings from the first half of this year, Kyobo Life is planning business initiatives centered on stablecoins, security token offerings (STOs), and Web3. Specific plans under consideration include establishing a specialized overseas subsidiary for digital assets, facilitating cross-border payments, and utilizing stablecoins.