Ripple Partners With Jeonbuk Bank to Speed Up Cross-Border Payments in South Korea

Highlights:

• Ripple partners with JB Jeonbuk Bank to bring faster cross-border payments to South Korean business customers.
• Jeonbuk Bank becomes South Korea’s first regional bank to use Ripple Payments for international remittances.
• Ripple says the service offers near real-time settlement and supports Jeonbuk Bank’s wider digital finance growth.

Ripple has partnered with JB Jeonbuk Bank to improve cross-border payments for businesses in South Korea. The agreement makes Jeonbuk Bank the first regional bank in the country to use Ripple Payments for international remittances. Ripple announced the partnership on August 18.

Through the partnership, Jeonbuk Bank will offer near real-time settlement to business customers sending money overseas. Ripple said traditional international bank transfers often pass through several intermediary banks using the SWIFT network. As a result, payments can take days to complete. Ripple Payments is designed to settle transactions within seconds to minutes and operates around the clock.

🚨RIPPLE PARTNERS WITH JEONBUK BANK FOR REAL-TIME CROSS-BORDER PAYMENTS!@Ripple announced that Jeonbuk Bank is the first regional lender in Korea to deploy Ripple Payments, replacing multi-day SWIFT transfers with near real-time, 24/7 settlement for business clients.

This is… pic.twitter.com/ElKZDx8H55

— Crypto Banter (@crypto_banter) August 18, 2026

Jeonbuk Bank Brings Ripple Payments to Business Customers

Jeonbuk Bank plans to use Ripple Payments for cross-border remittance services aimed at its global business customers. These include import-export companies, IT startups, and online content creators.

The system is designed to make overseas payments faster and more transparent while reducing the costs linked to traditional payment routes. Businesses that regularly pay international suppliers or receive money from overseas customers could therefore complete transactions without waiting several days for settlement.

Ripple Managing Director for Asia Pacific Fiona Murray said the deal reflects the increasing interest in digital asset infrastructure among South Korean financial institutions. Murray described it as part of the “growing momentum we are seeing across Korea’s institutional financial sector.” She also pointed to the role regional banks play in the wider economy. Jeonbuk Bank’s adoption of Ripple Payments will bring near real-time international settlement directly to the businesses it serves.

Jeonbuk Bank Targets Wider Digital Finance Growth

For Jeonbuk Bank, the partnership is also part of a broader digital finance strategy. JB Jeonbuk Bank President Park Choon-won said the bank is “ready to move beyond its role as a regional bank” through its partnership with Ripple. Park said the partnership could become a new growth driver for the bank as it expands its digital financial services. The bank also wants to strengthen its position beyond traditional regional banking and provide services that meet the needs of companies operating internationally.

Ripple Payments uses blockchain-based infrastructure to move value across borders. The service focuses on faster settlement and continuous availability, allowing financial institutions to process international transactions without relying only on traditional banking hours.

Ripple Expands Its Institutional Presence in South Korea

The Jeonbuk Bank agreement follows two other Ripple partnerships in South Korea announced earlier this year. Ripple is working with Kyobo Life Insurance, South Korea’s largest life insurer, to explore on-chain settlement for government bonds. It has also partnered with Kbank, the country’s first internet-only bank, which is deploying institutional wallet infrastructure through Ripple Custody.

🇰🇷 S.KOREA'S KBANK PARTNERS WITH RIPPLE FOR GLOBAL PAYMENTS

South Korea’s internet-only bank KBank has teamed up with Ripple to work on a proof-of-concept for onchain cross-border transactions.

The goal is faster, cheaper, and more transparent international payments by cutting… pic.twitter.com/QOnQkjiMIR

— Coin Bureau (@coinbureau) April 27, 2026

The three partnerships cover different areas of Ripple’s institutional services. Jeonbuk Bank is focusing on cross-border payments, while Kbank is using Ripple’s custody infrastructure and Kyobo Life is exploring blockchain-based settlement.