Kbank partners with Ripple to test on-chain remittances

Kbank has partnered with blockchain company Ripple to test next-generation overseas remittance technology, Insight Korea reported. The bank announced today that it has established a strategic partnership with Ripple at its Seoul headquarters. The core of the collaboration is to verify the effectiveness of a blockchain-based remittance structure. Kbank plans to leverage Ripple's global payment network and infrastructure to assess potential improvements in processing speed, cost structure, and transaction transparency.