Ripple expands in Korea with a KBank partnership that will test blockchain-based remittances across selected routes linked to the UAE and Thailand.
The agreement places Ripple inside South Korea’s regulated digital banking sector through the country’s first internet-only lender. It shows how Korean institutions are testing stablecoin settlement and blockchain infrastructure for faster international payments.
KBank Tests Blockchain Remittances With Ripple
KBank and Ripple signed the agreement on April 27 at KBank’s headquarters in Seoul. KBank CEO Choi Woo-hyung and Ripple Asia-Pacific Managing Director Fiona Murray attended the signing.
The pilot will examine whether blockchain remittance systems can improve speed, cost control, and transaction visibility compared with traditional correspondent banking. KBank is testing the service in stages to assess technical performance and compliance needs before any rollout.
The first phase reviewed a wallet-based remittance service through a separate app interface. The current phase connects KBank customer accounts and internal systems to test on-chain transfer stability. The routes under review are tied to the UAE and Thailand.
KBank is using Ripple’s Palisade SaaS-based wallet. The pilot uses stablecoin settlement instead of XRP, which reduces exposure to crypto price swings. This structure gives the bank a way to study blockchain payments while managing risk.
KBank Link Gives Ripple Strategic Access
KBank holds a key role in South Korea’s digital asset market. The bank is the exclusive banking partner of Upbit, the country’s largest crypto exchange by trading volume. Korean rules require exchange users to connect verified bank accounts, and each major exchange works with one bank.
This model helped KBank grow from about 2 million users in 2020 to 15 million by the end of 2025. The Ripple agreement, therefore, connects the company with a bank central to Korea’s crypto trading structure.
The deal also arrives as South Korea prepares its Digital Asset Basic Act. The framework is expected to treat stablecoins as payment instruments and set rules for cross-border digital asset activity. Banks and insurers are moving early into blockchain custody, settlement, and tokenization projects.
Ripple Builds Wider Institutional Network
Ripple has expanded its Korea strategy beyond remittances. On April 15, the company signed a deal with Kyobo Life Insurance to test tokenized government bond settlement. That project aims to support Korean treasury settlement and explore stablecoin-based payment rails.
Ripple is also expanding its institutional network outside Korea. It has partnered with Aviva Investors to support tokenized fund issuance and management on the XRP Ledger through 2026. Aviva Investors had $345 billion in net assets under management as of 2025.
Ripple has also worked with Convera to strengthen blockchain settlement for business payments. These deals show Ripple’s wider push into regulated remittances, custody, tokenization, and stablecoin payment infrastructure.
