TLDR
- Kbank will use Ripple Custody for digital asset wallet infrastructure.
- Ripple Custody supports MPC-based wallet operations for banks.
- Kbank is Korea’s first internet-only bank.
- The deal supports Kbank’s custody and wallet plans.
- Ripple said Korea remains a key market in its global strategy.
Kbank has partnered with Ripple to deploy MPC wallet infrastructure for digital asset custody. The move gives Korea’s first internet-only bank a bank-grade system for managing digital assets, while supporting its plans for wallet operations, custody services, and stablecoin-based cross-border payments in the regulated financial sector.
Kbank Adds Ripple Custody for Digital Assets
Kbank, Korea’s first internet-only bank, will use Ripple Custody for digital asset wallet infrastructure. The bank aims to manage digital assets securely across multiple blockchain networks.
The service uses multi-party computation, also called MPC, to support safer wallet operations. It also helps with fast wallet setup and high-speed transaction signing.
Kbank is known for its close links to Korea’s crypto market. It is also the exclusive banking partner for major digital asset exchanges in the country.
Through this partnership, Kbank can expand custody, wallet operations, and blockchain-based financial services. The bank will use Ripple’s wallet-as-a-service model for these plans.
Ripple Offers Bank-Grade Wallet Infrastructure
Ripple said its custody platform is built for regulated financial institutions. The system is designed to reduce the cost and work of building internal wallet tools.
Banks often face complex security, compliance, and operating needs in digital asset custody. Therefore, ready-made infrastructure can help speed up deployment.
Ripple Custody gives Kbank scalable tools without requiring a full in-house build. The platform also supports asset control within a regulated banking setting.
Fiona Murray, Managing Director, Asia Pacific at Ripple, said, “We are proud to partner Kbank.” She added that Kbank has led digital banking innovation in Korea.
Kbank Targets Stablecoin-Based Remittance Services
Kbank said the partnership supports its wider digital finance plans. The bank also linked the deal to stablecoin-based remittance services.
Choi Woo-hyung, CEO of Kbank, said, “This partnership marks a turning point.” He said it advances the bank’s stablecoin-based remittance capabilities.
He also said Kbank aims to set a new standard for cross-border payments. The bank plans to use Ripple’s global network and blockchain technology.
Ripple said Korea remains one of its most important markets. The company said it offers custody, wallet infrastructure, payments, and treasury tools for institutions.
Get 3 Free Stock Ebooks
Discover top-performing stocks in AI, Crypto, and Technology with expert analysis.
- Top 10 AI Stocks - Leading AI companies
- Top 10 Crypto Stocks - Blockchain leaders
- Top 10 Tech Stocks - Tech giants
