Key facts
- XRP Asia launched on October 3, 2026, at Korea Blockchain Week.
- The entity aims to accelerate XRP Ledger adoption and onboard institutions.
- Jeonbuk Bank uses Ripple Payments for real-time cross-border transactions.
- SBI and Kyobo completed a direct yen-to-won stablecoin transfer.
- SBI Ripple Asia registered a regulated token issuance platform in Japan.
- XRPL protocol upgrades include Permission Delegation and Batch amendments.
XRP Asia officially launched on October 3, 2026, at Korea Blockchain Week in Seoul, with a mandate to accelerate the adoption of the XRP Ledger (XRPL) across the region, support developers, and integrate banks onto its payment rails. The launch event featured representatives from Woori Bank and Kakao Bank, signaling institutional interest beyond community-driven initiatives.
South Korea's Jeonbuk Bank has already transitioned from multi-day SWIFT processes to real-time transactions using Ripple Payments, demonstrating the capability of regulated banks to utilize these cross-border rails. Further innovation in the Japan-Korea corridor was highlighted by a pilot transaction between SBI and Kyobo that bypassed the US dollar leg, settling directly between yen and won stablecoins.
Retail participation in South Korea remains robust, with XRP frequently leading trading volume on Upbit, the country's largest exchange, where weekly volumes have reached approximately $8 billion. This liquidity provides a foundation for institutional development. In Japan, SBI Ripple Asia established a regulated token issuance platform under the Fund Settlement Act in March 2026, bridging the XRPL with Japanese financial regulations. SBI Holdings is also expanding its presence by acquiring Bitbank.
The launch coincides with significant XRPL protocol upgrades, including Permission Delegation and Batch amendments, which are nearing activation. Permission Delegation allows for granular control over account rights, suitable for bank-specific separation of duties, while Batch enables atomic settlement of grouped transactions. These upgrades are considered crucial infrastructure for institutional use cases such as tokenized deposits and cross-border payments.
The XRPL's credibility extends beyond Asia, with South Africa's Absa Bank offering XRPL-based custody and the Bank for International Settlements utilizing the ledger for tamper-proof official statistics. These developments frame the XRPL as a global banking infrastructure.