Kyobo Life Insurance to pay claims with stablecoins

Kyobo Life Insurance has confirmed the feasibility of using a Korean won-pegged stablecoin for insurance premium payments and claim payouts, Yonhap Infomax reported. The company announced on June 24 that it had completed a proof-of-concept (PoC) with blockchain infrastructure firm EQBR, following a results-sharing session on June 19. The two companies focused on linking Kyobo Life's existing insurance systems with blockchain infrastructure to create a process for handling premium payments and claim payouts with digital assets.