Woori Bank to use Ripple after Successful Testing

Woori Bank/Ripple Partnership

Ripple has been making a lot of waves with their marketing and partnerships.  South Korean bank Woori Bank has officially completed testing with cross-border payments with Ripple.  Early news is that the test was a huge success.  It was also announced that Ripple CEO Brad Garlinghouse might be coming to South Korea later this month.  These are clear signs that Woori Bank will soon be adopting the Ripple system.

Ripple’s goal will be to incentive Woori Bank to eventually use the x-rapid program which will help with liquidity and settlements.  Ripple has been aggressive in getting banks to test their system using x-current or x-rapid protocols.  If the banks go with the x-current protocol, Ripple will introduce them to the x-rapid protocol.  Ripple has previously partnered with a Japanese bank consortium and the SBI Holdings group who have already finished their testing and are already working with Ripple.

Coinbase/Ripple Partnership?

The partnerships and the relationships Ripple are forming is slowly building up.  Furthermore, Ripple is close to being listed on Coinbase.  This is great news for Ripple (XRP) given that is already a top 3 crypto and the fact that there is so much demand for it.  There are already a lot of competitors coming into the market which is why it will be crucial for Ripple to be listed on Coinbase as soon as possible.  The price of Ripple should see a huge jump once this is done.  It could be as early as this week!

Getting listed on Coinbase will be huge for Ripple.  If Ripple wants to really break out this year they need a major exchange like Coinbase where it is easy to use, it is one of the major exchanges and people can take fiat currency and buy crypto directly.  Now people will not have to go buy bitcoin or ethereum and transfer it to another exchange.

John Yoon

John Yoon is the Editor in Chief at Startup Radar, Organizer for Startup Festival 2017, Head of Operations Korea at EOS Asia and the Global Marketing Director for Foresting.io. Email = john@startupradar.asia if you are interested in guest contributing and helping the Korean startup ecosystem. Wechat, Kakao, and Line user ID is jswy315

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