Ripple to provide Kbank custody and cross-border payments

Ripple announced on April 19, 2026 that Kbank will deploy Ripple Custody’s wallet-as-a-service and multi-party computation (MPC) tools to manage institutional digital asset wallets and to support cross-border payments and stablecoin remittances in South Korea.

Kbank is South Korea’s first internet-only bank and serves as the exclusive banking partner for several of the country’s largest digital asset exchanges. The bank will integrate Ripple Custody into its existing operations.

Kbank will use MPC-based wallet technology to operate wallets across multiple blockchain networks. MPC lets several parties share control of private keys so transactions can be signed and assets controlled without a single operator holding the full key. Ripple said the setup enables faster wallet provisioning, high-speed transaction signing and scalable digital asset management for regulated institutions.

The agreement centers on infrastructure rather than trading services. Kbank will receive managed custody, asset control and cross-border payment capabilities without building a proprietary custody system from scratch. Bank executives expect the infrastructure to support cross-border payments and stablecoin-based remittances as part of the bank’s payments strategy.

Ripple described Korea as a strategic market for institutional digital asset infrastructure and said the offering is part of a broader stack that includes custody, wallet infrastructure, payments and treasury management. Ripple added that managed custody can reduce development costs and regulatory burdens for banks and speed time-to-market for institutional wallet operations.

Fiona Murray, managing director of Asia Pacific at Ripple, commented: ‘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.’

Kbank chief executive 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.’

The agreement gives Ripple a regulated banking deployment for Ripple Custody in Korea and provides Kbank with managed custody infrastructure for institutional digital asset services.