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Toss to work with Kyobo Life on use of digital assets in financial services

Viva Republica, operator of South Korean finance app Toss, is partnering with Kyobo Life Insurance to explore ways to apply digital assets to financial services such as insurance. Toss said it signed a memorandum of understanding on Aug. 7 to cooperate on building a digital-asset ecosystem and services. The two plan to pursue a proof of concept, share information to set standards compliant with regulations and assess areas where digital assets could be used in practice.