Overseas money transfers via India's Liberalised Remittance Scheme have stabilized around $30 billion. While education remittances dropped due to international restrictions, investments in foreign equity and debt markets have nearly doubled in three years, indicating a shift in remittance patterns.
South Korea's Kbank has signed a strategic partnership with Ripple to test blockchain-based overseas remittances, placing a bank with a central role in Upbit's KRW account access beside one of crypto's longest-running payments infrastructure firms. Local reports describe the work as a technical verification, or proof-of-concept, focused on whether Ripple's infrastructure can improve the speed, […] The post The South Korean bank powering Upbit is testing Ripple integration for cross-border payments appeared first on CryptoSlate.
Kbank, South Korea's internet-only bank, has signed a strategic partnership with Ripple to test blockchain-based overseas remittances. The agreement was signed by Kbank CEO Choi Woo-hyung and Ripple's Asia-Pacific managing director Fiona Murray at Kbank's Seoul headquarters. The partnership uses Ripple's global network to test whether remittances can be made faster, cheaper and more transparent. Companies are conducting phased technical verification, with the second phase digitally linking customer accounts and internal systems, including onchain transfers to the UAE and Thailand. The tie-up comes as South Korea prepares stablecoin regulations under the Digital Asset Basic Act.
