Korean Banks Deepen Commitments to XRP Ecosystem
Korean banks, including Woori Bank, Kakao Bank, Kyobo Securities, and Kbank, have made significant commitments to Ripple and the XRP ecosystem in South Korea.
At XRP Seoul 2026, these banks sent their own representatives to speak alongside Ripple's president, Monica Long. This marks a notable shift in the relationship between banks and the crypto industry in South Korea.
Woori Bank, in particular, has been working with BDACS, a regulated South Korean digital asset custodian, to build out digital asset custody services. This partnership predates Ripple's involvement and has already led to the live implementation of XRP custody for institutional holders.
The involvement of these banks and custodians in the XRP ecosystem is part of a broader trend of financial institutions choosing to build directly on crypto rails rather than simply investing in tokens.