Kbank Bets on Stablecoins, AI to Expand Digital Platform

Kbank, which has expanded by making financing for sole proprietors a growth engine, is stepping up efforts to build new businesses. The internet-only bank has picked stablecoins and artificial intelligence as its next core businesses and is building related infrastructure. From a global remittance network to investment in AI data centers, Kbank is widening its scope as it seeks to evolve beyond online banking into a digital financial platform.

In April, Kbank began pursuing cooperation with blockchain company Ripple to build a next-generation overseas remittance model. The initiative centers on using Ripple’s blockchain-based payments network to complement the limits of SWIFT, the traditional international remittance network, while improving transfer speed and cost efficiency. Kbank is the only South Korean bank pursuing cooperation with Ripple.

The bank is also expanding cooperation with financial institutions in countries with high digital-asset adoption, including Thailand and the United Arab Emirates. It is preparing service models focused on practical use to meet potential demand for stablecoin-based overseas remittances from tourists and small and medium-size businesses.

Funds raised through its recent listing are providing a base for expanding its digital-asset business. Kbank is investing about $7.2 million to build a stablecoin system and upgrade infrastructure in preparation for growth in institutional investor trading.

The bank is also continuing its business preparations. Kbank has filed trademark applications related to stablecoins and digital wallets, including “K-STABLE” and “Kbank Wallet,” and is operating a digital-asset task force. It is conducting proof-of-concept tests based on actual remittance conditions while working with global financial institutions to assess the feasibility of the business. The bank is also strengthening its technical capabilities so it can quickly launch related services once a regulatory framework is in place.

AI is another area of focus for Kbank. The bank recently unveiled plans for a dedicated AI data center and a GPU platform to strengthen its AI-based service capabilities. As the use of generative AI spreads across the financial industry, Kbank aims to secure its own infrastructure to speed service development and improve operating efficiency.

The new AI data center will operate separately from the bank’s existing data centers, which are focused on banking systems. It will be designed for AI computing and large-scale data processing, and linked with existing facilities through networking and virtualization technology. That structure is intended to improve the efficiency of AI resource use.

Kbank is also building a GPU platform. With competition to secure GPUs intensifying as the AI industry expands, the bank plans to establish its own AI infrastructure early and build a foundation for adopting additional large language models and developing new services.

Kbank has also broadened its use of AI since becoming the first internet bank in 2024 to introduce a finance-focused private large language model. It operates an “AI Integrated Search” service that analyzes the intent and context of customer questions to provide financial information. The bank is also using AI in internal operations through tools including a “Customer Center AI Assistant” that supports customer service consultations and an “AI Advertising Review Assistant” for ad review work.

Kim Tae-rim, Hankyung.com reporter, tae@hankyung.com