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\n\t\t\t\t\t\t\t\t\tKBank has partnered with Ripple to explore onchain cross-border payments through a proof-of-concept.\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
South Korea\u2019s internet-only lender KBank is moving beyond early-stage trials with blockchain remittances through a new partnership with Ripple, as it shifts focus toward testing real-world integration and scalability of the technology.<\/p>\n
The agreement was signed at the bank\u2019s Seoul headquarters with KBank CEO Choi Woo-hyung and Ripple Asia-Pacific Managing Director Fiona Murray, among the attendees, alongside other officials.<\/p>\n
Under the partnership, KBank plans<\/a> to use Ripple\u2019s global network and infrastructure to evaluate whether the technology can improve the speed, cost efficiency, and boost transparency of its existing cross-border transfer system. The companies also discussed broader cooperation, such as a digital wallet-based proof of concept to support KBank\u2019s remittance model and potential expansion into digital asset-related services.<\/p>\n KBank said it is already running a two-phase proof of concept. The first phase tested transfers through a separate application, while the second phase involves assessing transaction stability by virtually linking customer accounts with internal systems. This phase will also include on-chain transfer tests with partners in the United Arab Emirates and Thailand, where KBank has signed memorandums of understanding for stablecoin-based transactions.<\/p>\n The bank added that it initially used an in-house wallet but will switch to Ripple\u2019s SaaS-based digital wallet, Palisade, in the second phase to test a more scalable and compliant model. Separately, KBank remains the sole banking partner of South Korean crypto giant Upbit.<\/p>\n In an official statement, Fiona Murray, Managing Director, Asia Pacific at Ripple, stated,<\/p>\n \u201cWe are pleased to partner with KBank, which has helped set the standard for digital banking in Korea and continues to drive innovation.\u201d<\/p>\n<\/blockquote>\n Ripple has been building out its presence in South Korea for some time now. Earlier this month, the company announced<\/a> a strategic partnership with life insurance company Kyobo Life Insurance to develop institutional digital asset infrastructure in the country. The focus was on tokenized government bond transactions.<\/p>\n The collaboration will use Ripple Custody to provide secure storage, transfer, and settlement of tokenized assets within a regulated framework. Both firms will assess the technical and regulatory feasibility of tokenized Treasury settlements. The aim is to replace manual processes with on-chain execution. The initiative is designed to improve transparency and efficiency, while also enabling near real-time settlement and reducing counterparty risk. Ripple will additionally support stablecoin-based payments, which would enable continuous, 24\/7 transactions.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
Ripple Expands South Korea Footprint<\/h2>\n
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