Ripple Custody has entered South Korea's first internet-only bank, Kbank, providing managed wallet infrastructure for digital assets and cross-border payment capabilities. On April 19, 2026, Ripple announced that Kbank will deploy Ripple Custody's wallet-as-a-service infrastructure to expand digital asset wallet operations in the country's regulated banking sector. The partnership gives Kbank managed infrastructure for custody, asset control, and cross-border payment capabilities without requiring the bank to build its own custody system from scratch.
Core Partnership: Custody Infrastructure and Multi-Party Computation
Under the agreement, Kbank will use Ripple Custody's multi-party computation (MPC)-based wallet technology to manage digital assets across multiple blockchain networks. Ripple stated that the infrastructure enables faster wallet setup, high-speed transaction signing, and scalable digital asset management for regulated financial institutions. For Kbank, internal custody development often involves high costs, technical complexity, and operational oversight. Ripple Custody's turnkey solution significantly lowers the technical barrier and operational burden. Kbank is already the exclusive banking partner to several of South Korea's largest digital asset exchanges, giving it a strong position in the country's crypto banking market.
Fiona Murray, Managing Director of Asia Pacific at Ripple, noted: "As the first internet-only bank in Korea to deploy Ripple Custody's wallet-as-a-service infrastructure, Kbank is setting a new benchmark for how regulated financial institutions can build scalable, institutional-grade digital asset capabilities."
Cross-Border Payments and Stablecoin Remittance Pathways
The deal focuses on infrastructure rather than trading activity. Ripple Custody provides Kbank with bank-grade wallet tools that include security controls and scalability out of the box. This allows the bank to move faster while avoiding the burden of creating and maintaining a proprietary platform. Kbank is expected to use the infrastructure to explore a more efficient operating model for institutional digital assets while keeping the control standards required in regulated finance.
Notably, Kbank recently announced it is evaluating blockchain-based remittance systems using Ripple's technology, connecting wallet infrastructure with the bank's broader cross-border payments strategy. Kbank Chief Executive Officer Choi Woo-hyung stated: "By leveraging Ripple's global network and blockchain technology, we aim to set a new standard for cross-border payments within Korea's evolving financial ecosystem." He also emphasized that the partnership aligns with the bank's work on digital finance and stablecoin-based remittance capabilities.
Strategic Implications: Korean Market and Institutional Digital Asset Infrastructure
For Ripple, the agreement represents a regulated banking deployment of Ripple Custody in Korea, while giving Kbank infrastructure to support secure digital asset services at scale. The deal links custody, wallet operations, and payment infrastructure under one institutional digital asset strategy. Custody infrastructure is becoming a practical foundation for banks pursuing blockchain-based financial services.
Ripple has positioned Korea as a major part of its global strategy, noting that institutional finance in the country is reaching an important stage for digital asset infrastructure. The company offers its product as a broader stack that includes custody, wallet infrastructure, payments, and treasury management. This partnership could drive adoption of blockchain technology among Korean banks and provide a replicable model for other regulated financial institutions worldwide.