Ripple scores new customer with the second largest Bank in South Korea ‘Shinhan’

Ripple scores new customer with the second largest Bank in South Korea 'Shinhan'

Ripple continues to expand its network by adding new banks. This time it has added Shinhan to RippleNet. Shinhan is the second-largest South Korean bank.

2 of the largest Korean banks use Ripple

The addition is good news for the XRParmy. The community celebrates the addition of every new bank partner. This time they can celebrate the addition of the new partner Shinhan. The fifth-largest bank in Korea, called ‘Woori Bank’, is already a Ripple customer.

The news about the addition of the Shinhan bank comes directly from a powerpoint presentation. This shows that the Shinhan bank is now also a customer of Ripple. The addition of the Korean bank means that 2 of the largest banks in the country are customers of Ripple.

ripple south korea

Ripple adds more large banks to RippleNet

Ripple works together with many large banks to use the blockchain system for fast foreign payments. An example of this is the National Bank of Fujairah (NBF) from the Middle East.

Other recent additions to the RippleNet are the Interbank from Peru and Vitesse from the United Kingdom. Both customers will use Ripple’s xCurrent system.

XRP use among Ripple partners remains small

Most partners only use Ripple’s ledger. Very few customers use the XRP token for transnational payments. The global money transaction company ‘MoneyGram’ does use XRP tokens to process payments.

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About Viktor Sokolov 132 Articles
Nerd, entrepreneur & coffee aficionado. Believes that blockchain infrastructure and bitcoin will be the money system of the coming decades. Trying to make visible what this means for technology, economy, companies and societies.

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