Japanese and Korean banks are to run pilot trials of real-time cross-border funds transfers over the Ripple network, reports Finextra. The Japan Bank Consortium - a coalition of 61 banks in Japan, organised by SBI Ripple Asia - has announced the launch of a new Ripple pilot with Woori Bank and Shinhan Bank, two of South Korea's largest banks. Under the terms of the trial, the Japan Bank Consortium will use Ripple's settlement technology, xCurrent, to settle transactions between participating Japanese banks and Woori Bank or Shinhan Bank.