Ripple has partnered with Kbank to deploy an institutional digital asset wallet in Korea, equipping the internet bank with scalable custody infrastructure.
Kbank, South Korea’s first internet-only lender, will use Ripple Custody to manage digital assets across multiple blockchains.
The system relies on multi-party computation (MPC) technology to allow for high-speed transaction signing and fast wallet provisioning within a regulated banking environment.
The wallet-as-a-service model lets Kbank expand its institutional crypto infrastructure without the high operational costs of building proprietary systems from scratch.
This integration supports Kbank’s broader strategy to expand its blockchain-based financial services. The bank currently operates as an exclusive fiat banking partner for several major South Korean cryptocurrency exchanges.
“Kbank is setting a new benchmark for how regulated financial institutions can build scalable, institutional-grade digital asset capabilities,”
said Fiona Murray, Managing Director for Asia Pacific at Ripple.
Choi Woo-hyung, CEO of Kbank, said the collaboration will strengthen the bank’s cross-border payments strategy.
“This partnership marks a turning point in advancing our stablecoin-based remittance capabilities,”
Choi said.
He added that the bank intends to use Ripple’s global network and blockchain technology to improve cross-border payments in the region.
Featured image credit: Ripple press release