K bank, Ripple to Pilot Palisade Wallet and Stablecoins

Seoul-based K bank signed a strategic partnership with Ripple on April 27 to pilot blockchain-based overseas remittances and to test Ripple’s Palisade digital wallet and stablecoin transfers with partners in the United Arab Emirates and Thailand. The pilot will evaluate whether Ripple’s network can speed transfers, lower costs and increase transparency for the internet-only bank’s cross-border payments.

The agreement was signed at K bank’s Seoul headquarters by CEO Choi Woo-hyung and Fiona Murray, Ripple’s vice president of strategic customer success. In the second phase, K bank will virtually link customer accounts with its internal systems to measure transaction stability and regulatory compliance during live-style operations.

K bank completed an initial proof-of-concept that used a separate application and an in-house wallet to simulate transfers. For the next phase, the bank plans to deploy Palisade, Ripple’s software-as-a-service digital wallet, to test a model for managing compliance and scaling service rollouts.

The project includes trials of on-chain stablecoin transfers with partners in the UAE and Thailand, where K bank has signed memorandums of understanding. The tests will assess whether tokenized funds can be moved and settled more efficiently than through correspondent-banking routes.

Ripple operates a global payments network and provides infrastructure used by more than 100 institutions. K bank will use Ripple’s network to compare transaction speed, cost and transparency against its current remittance processes. The companies discussed broader cooperation, including additional digital wallet proof-of-concept work, support for K bank’s remittance model and expanded collaboration on digital asset services.

Fiona Murray, Ripple’s vice president of strategic customer success, commented, “We are pleased to partner with K bank, which has helped set the standard for digital banking in Korea and continues to drive innovation.” K bank CEO Choi Woo-hyung noted the collaboration will help the bank strengthen its competitiveness in blockchain-based remittance technology.

The agreement follows Ripple’s engagement with Kyobo Life Insurance on a separate proof-of-concept to explore tokenized government bond transactions in South Korea. K bank plans to continue phased testing through 2026, including international trials to validate cross-border stablecoin flows and Palisade’s operational performance.