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K Bank joins hands with Ripple to start verifying blockchain remittances

K Bank is working with global blockchain company Ripple to verify overseas remittance technology. The bank said on April 27 it has signed a strategic partnership with Ripple and is conducting a blockchain-based remittance proof of concept. The partners plan to test whether Ripple’s global network and blockchain infrastructure can improve remittance speed, cost and transparency. The verification is proceeding in stages, including tests of on-chain transfers to the UAE and Thailand.