Ripple Labs
Cross-border payments. Issuer of XRP. Custodies/escrows large XRP supply.
Dec 2020: SEC sued Ripple over unregistered XRP sales. July 2023: judge ruled programmatic sales weren't securities; institutional sales were. Aug 2024: $125M penalty (vs SEC's $1B+ ask).
Kbank partnered with Ripple to test blockchain-based overseas remittances as South Korean companies prepare for new stablecoin and digital asset rules.
KBank is using Palisade, Ripple's software-as-a-service wallet that was acquired earlier this year as part of Ripple's $4 billion in crypto-related investments.
KBank and Ripple have already completed the first phase of the PoC, in which they verified a wallet app-based remittance system.
Price holds in tight range after high-volume move, with compression signaling a decisive move as institutional demand quietly builds.