Coroutines/resumable functions are not restricted to yielding to a single runtime or event loop, they can simply "resume" each other directly. There are also extensions of coroutines that are more than one-shot (a resumable function where the current state can be copied and invoked more than once) and/or are allowed to provide values when "resuming" other code, which also goes beyond the common "event loop" model.

It's all the same concept, it's just a matter who/what is managing the state while you are waiting for I/O. When you yield, it's the compiler/runtime making sure the context is saved. When you return, it's your responsibility.