South Korean Bank Plans ‘Commercial’ Ripple Remittances By 2019231.59

South Korean bank Woori Bank intends to introduce "Commercialized" international remittances this year based on Ripple, a cryptocurrency-powered remittance network, local news outlet ChosunBiz reports Friday, Mar. 2. On the back of a positive test transaction by its Digital Strategy Department following initial tests in January, the bank is now looking to introduce Ripple's technology to its worldwide remittances. South Korea's second-largest bank Shinhan was also on board. "Several banks, such as two or three megabanks and Internet professional banks, are pushing to introduce the practice."
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