- Upbit-linked KBank tests Ripple rails for fast cross-border payments across UAE, Thai routes.
- KBank reviews Ripple’s Palisade wallet for compliance, custody, and settlement control tests.
- XRP holds near $1.41 as volume jumps 60%, keeping Ripple payment activity in sharp focus.
South Korea’s KBank has joined hands with Ripple to test blockchain-based cross-border remittances, using on-chain transfers to measure speed, cost, and transparency. The internet-only lender, linked to Upbit through major shareholder Dunamu, is running the project through a multi-phase proof-of-concept.
The test focuses on selected payment routes, including the United Arab Emirates and Thailand, as KBank reviews whether blockchain rails can improve overseas transfers. Nonetheless, the bank is not launching a live remittance service yet, but is checking how the model works with its systems.
Ripple Pilot Tests Wallet-Based Transfers
According to reports, KBank tested a wallet-based remittance model through an app interface in the first phase. The setup simulated how retail users could send money overseas while using a normal mobile banking screen.
The bank then moved the test into a virtual environment connected to its internal account systems. Engineers are now checking account-to-account transfers and settlement performance across supported routes.
KBank is also reviewing Ripple’s Palisade platform, a cloud-based wallet system for digital asset services. The bank is assessing the platform for custody, compliance checks, security controls, and key management.
That review also compares external wallet infrastructure with a fully in-house wallet model. The comparison helps KBank study control, operating costs, and compliance demands.
According to the local reports, KBank may use stablecoins in the background for some transfer flows. Regardless, customers would still see local currencies in the app, while blockchain settlement handles value movement between countries.
KBank Expands Digital Asset Roadmap
The remittance trial fits into a wider digital asset plan at KBank, which holds about $25 billion in assets. The lender has filed trademarks for stablecoin wallets and has outlined Web3-focused banking services.
Its strategy centers on a hybrid model instead of replacing existing banking systems. Under that approach, customers keep using mobile banking tools, while blockchain and stablecoins support the settlement layer.
The model could help reduce the number of intermediaries involved in remittances. Traditional cross-border transfers often pass through several banks, adding time, fees, and processing steps.
XRP Holds $1.41 as Volume Climbs
Meanwhile, XRP traded near $1.41 after falling about 2.53% from its intraday high of $1.44. However, the token’s trading volume rose more than 60% to about $1.83 billion.
The volume increase showed higher market activity around XRP despite the price pullback. The move came as Ripple’s banking partnership in South Korea brought renewed attention to blockchain payment infrastructure.
Related: XRP Price Prediction: Consolidation Builds as Traders Eye $1.50 Breakout
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