Ripple has announced a strategic partnership with South Korea’s Kbank to implement digital asset wallet infrastructure via Ripple Custody. The move marks one of the first times a fully regulated internet-only bank in the country is adopting institutional-grade custody technology.
Kbank adopts Ripple custody solution
Under the deal, Kbank will use Ripple Custody’s wallet-as-a-service offering to strengthen its institutional digital asset operations. This makes Kbank the first internet-only bank in South Korea to deploy this infrastructure, according to Ripple. The bank already works closely with the local crypto ecosystem, serving as a banking partner for major exchanges like Upbit. By using Ripple’s platform, Kbank aims to avoid the high costs and complexity of building its own custom custody system. The partnership could also open the door to new services involving digital assets and stablecoin-powered remittances.
Ripple’s Asia-Pacific leader comments
Fiona Murray, Ripple’s Managing Director for Asia-Pacific, called the collaboration a significant step. She described Kbank as a leader in Korea’s digital transformation and said the bank is setting a new benchmark by being the first internet-only bank to adopt Ripple Custody’s wallet-as-a-service. Murray also noted that South Korea remains a critical market for Ripple’s long-term plans. She believes institutional adoption across the country’s financial sector is nearing an important turning point. Ripple’s infrastructure stack, which includes custody, wallet services, and payments, positions the company well to support this shift, she argued. Ripple has previously expanded in South Korea through partnerships with BDACS and Kyobo Life Insurance.
A look at Ripple Custody
Ripple built its custody platform by acquiring companies like Standard Trust & Custody and Metaco. The company promotes it as a bank-grade, secure solution for storing and managing cryptocurrencies and tokenized assets. Since launching, Ripple has continued to add institutional capabilities, notably after its acquisition of Palisade. The Kbank deal is the latest sign that regulated banks in South Korea are increasingly turning to blockchain-based services. It also reflects a broader trend of traditional finance firms exploring digital asset infrastructure without taking on excessive operational risk.
