Ripple has announced a partnership with Jeonbuk Bank that positions the South Korean regional lender as the first of its kind in the country to deploy Ripple Payments. The deal, revealed on August 18, 2026, focuses on modernizing cross-border remittances by moving away from traditional systems that have long frustrated businesses.
Sponsored
Traditional international bank transfers typically route through the SWIFT network and multiple intermediary banks, often taking several days to complete. Ripple Payments replaces this process with near real-time settlement that finishes in seconds to minutes and operates 24/7.
Jeonbuk Bank can now offer its customers faster, more transparent, and more cost-effective remittance services. The change is designed for global business clients such as import-export companies, IT startups, and online content creators who previously dealt with multi-day delays and higher costs associated with conventional transfers.
Leadership Perspectives On The Partnership
Fiona Murray, Managing Director for Asia Pacific at Ripple, described the collaboration as a sign of broader progress: “This partnership with Jeonbuk Bank reflects the growing momentum we are seeing across Korea’s institutional financial sector, where leading financial institutions are actively building out their digital asset capabilities and seeking infrastructure partners they can rely on for the long term.”
“Regional banks play a vital role in the real economy.As the first regional bank in Korea to deploy Ripple Payments, Jeonbuk Bank is extending near real-time cross-border settlement directly to the businesses it serves, and this is a meaningful step for Korea’s broader financial ecosystem.”
Park Choon-won, President of JB Jeonbuk Bank, framed the move as a strategic leap: “With this partnership with Ripple, JB Jeonbuk Bank is ready to move beyond its role as a regional bank and emerge as a digital finance leader that meets global standards.”
“This partnership will become a new growth engine for the bank, and we will lead innovation that reshapes the financial paradigm, going beyond the adoption of new technology.”
Ripple’s Expanding Footprint In South Korea
The Jeonbuk Bank agreement marks Ripple’s third major partnership in Korea this year. Earlier collaborations involved Kyobo Life Insurance, the country’s largest life insurer, which is exploring on-chain government bond settlement, and Kbank, Korea’s first internet-only bank, which is deploying institutional wallet-as-a-service infrastructure through Ripple Custody.
These deals show Korean financial institutions approaching Ripple for different needs. Whether its payments, custody or any related infrastructure – the big boys around the region expand their digital asset capabilities.
By enabling regional banks to deliver continuous, rapid cross-border settlement, the Ripple partnership highlights how blockchain-based solutions can address longstanding inefficiencies in international payments and support businesses operating in global markets.
Explore DailyCoin’s hottest crypto trends today:
XRP’s Quantum-Resistance Roadmap Takes Aim At 2028
Trezor Warns of Phishing Risk After 14,000-Customer Data Leak