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According to Insight Korea, South Korea's internet bank K Bank announced that it has established a strategic partnership with Ripple, utilizing Ripple's global payment network and infrastructure to verify the potential improvements in speed, cost, and transparency of blockchain-based overseas remittances.
The two parties will work together on digital wallet technology verification, joint development of overseas remittance models, and expansion of digital asset collaborations. Currently, they are in the second phase, testing on-chain fund transfers in markets such as the United Arab Emirates and Thailand, and introducing Ripple's SaaS digital wallet Palisade to find the optimal model.