XRP
Korean Banks Participate in Ripple Seoul Event as Regional Initiatives Expand
Four South Korean financial institutions attended Ripple's Seoul event as the company unveiled XRP Asia.
Four South Korean financial institutions—Woori Bank, Kbank, Kyobo Securities, and either Jeonbuk Bank or Kakao Bank—appeared alongside Ripple at an event in Seoul, where the firm also introduced its XRP Asia initiative to promote the XRP Ledger.
The article notes that partnering with Ripple does not necessarily mean adopting the XRP digital token. Ripple provides financial software that allows banks to transfer traditional fiat currencies directly, as well as an alternative framework that utilizes XRP as an intermediary bridge asset to settle cross-border payments without pre-funding foreign accounts.
Several attendees already maintain operational ties with Ripple: Kbank started a remittance pilot in April 2026, Jeonbuk Bank employs Ripple Payments, Kyobo Life collaborates on tokenised government bonds, and Woori Bank works with institutional custodian BDACS. However, the details presented at the Seoul event did not explicitly confirm that these institutions are using XRP for settlement.
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