Ripple Partners Use Canton To Find a Way to Skip The Dollar in Asia Ripple's partners SBI Group and Kyobo Life Insurance completed a cross-border stablecoin payment test between Japan and South Korea. The firms transferred yen and won stablecoins directly without routing

What happened

Ripple's partners, SBI Group and Kyobo Life Insurance, finished a test sending yen and won stablecoins directly between Japan and South Korea, avoiding the dollar, using Canton.

Confirmed

Global impact / market context

This test suggests cross-border payments could become faster and cheaper without the dollar as a middle step. If stablecoins are used widely, banks and payment firms may see lower costs and new revenue from digital transactions.

Analyst inference

Stablecoins, which are digital tokens pegged to regular money, are gaining attention in Asia. This trial could increase demand for Ripple's technology and XRP, its token, as firms seek direct currency exchanges.

Analyst inference

What to watch

1. SBI Group and Kyobo Life Insurance have completed the test, confirming the payment worked between Japan and South Korea without routing through the dollar. Confirmed
2. Watch for announcements about a commercial launch, which would use this test as a basis for offering real stablecoin services to customers in the region. Proposed
3. If successful, other firms may follow this example, potentially increasing stablecoin adoption and influencing how cross-border payments are made in Asia. Analyst inference

Affected assets

• XRP — XRP

Evidence

• x.com