South Korea’s Jeonbuk Bank Taps Ripple Payments
The bank will use Ripple Payments to replace multi-day SWIFT transfers with around-the-clock settlement for importers, exporters and startups.
- Jeonbuk Bank became the first regional bank in Korea to deploy Ripple Payments for cross-border transfers, offering business customers including importers and exporters near real-time settlement.
- Following 2026 infrastructure partnerships with Kyobo Life Insurance and Kbank, Ripple managing director for Asia Pacific Fiona Murray said the deal reflects growing momentum across Korea's institutional financial sector.
- Ripple has spent the past year pushing RLUSD, its dollar-pegged token, as the settlement asset for institutional work, enabling transfers in seconds to minutes around the clock.
- Traditional bank transfers rely on the SWIFT network, which often requires multiple intermediary banks and can take days to complete, contrasting sharply with Ripple's near real-time system.
- XRP fell below $1 on Tuesday, down over 1% on the day, even as tokenized real-world assets on the XRP Ledger reached about $1.38 billion.
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36 Articles
XRP Falls Below $1 for the First Time Since 2024, on Ripple's Biggest Korea Day
On August 18, Ripple announced that Jeonbuk Bank had become the first regional bank in South Korea to deploy Ripple Payments for cross-border remittances, the company's third Korean institutional deal of 2026.
Jeonbuk Bank Makes Landmark Move as First Regional Korean Bank to Adopt Ripple Payments
Jeonbuk Bank, a major regional bank in South Korea, has adopted Ripple Payments for cross-border remittances, becoming the first regional bank in Korea to use the payment solution. Ripple announced the partnership in a recent press release, confirming that Jeonbuk Bank will use Ripple Payments to help businesses send money across borders more quickly.Visit Website
(Jeonju=Yonhap News) Reporter Choi Young-soo = Jeonbuk Bank has signed a strategic partnership agreement with Ripple, a global blockchain and fintech company, and [developed] digital financial...
South Korea’s Jeonbuk Bank deploys Ripple for cross-border payments
Ripple is bringing its cross-border payments platform to Jeonbuk Bank, but key details including its launch status and settlement asset remain undisclosed. South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers. On Tuesday, Ripple said its Ripple Payments platform would let the bank’s customers settle overseas transfers in seconds to minutes, with operatio…
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