Coin World News: According to Digital Asset, South Korea’s long-established large insurance company Kyobo Life Insurance and Japan’s SBI Group have completed a cross-border payment test for stablecoins between Korea and Japan. In the Canton Network test environment, both parties verified direct conversion between a yen stablecoin and a won stablecoin, without first exchanging into US dollars. This model is expected to reduce the foreign-exchange step, time costs, and exchange-rate risk involved in cross-border transfers of institutional funds. Both sides plan to further explore cooperation such as digital asset exchanges and asset management. This test used only test tokens and did not actually transfer stablecoins or institutional funds.