South Korean Bank to Adopt Ripple’s “Commercialized” Transfers by 2019

March 5, 2018

Woori Bank in South Korea plans introducing “commercialized” international fund remittances based on Ripple later this year.

The decision is the part to the Japanese campaign by Ripple and SBI Group with 37 other institutions testing blockchain-transfers taking part in it. At least 23 organizations of all participants are Japanese banks which is caused to some extent by Ripple being incredibly popular in this country. The second largest bank of South Korea Shinhan also plans implementing blockchain and cryptocurrencies.

In mid-February the company has claimed, Western Union also aims to using their technologies for time and cost saving in cross-border transfers.

It is to be realized, however, XRP token itself has nothing to do with adopting Ripple blockchain.

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