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.<\/p>\n
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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.<\/p>\n
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Jeonbuk Bank is the first regional bank in Korea to deploy Ripple Payments, replacing multi-day SWIFT transfers with near real-time, 24\/7 cross-border settlement for its business customers. Our third Korean partnership this year, after Kyobo Life Insurance and Kbank, partnering\u2026<\/p>\n \u2014 Ripple (@Ripple) August 18, 2026<\/a><\/p>\n 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.<\/p>\n Leadership Perspectives On The Partnership<\/p>\n Fiona Murray, Managing Director for Asia Pacific at Ripple, described the collaboration as a sign of broader progress: \u201cThis partnership with Jeonbuk Bank reflects the growing momentum we are seeing across Korea\u2019s 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.\u201d<\/p>\n \u201cRegional 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\u2019s broader financial ecosystem.\u201d<\/p>\n Park Choon-won, President of JB Jeonbuk Bank, framed the move<\/a> as a strategic leap: \u201cWith 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.\u201d<\/p>\n \u201cThis 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.\u201d<\/p>\n The Jeonbuk Bank agreement marks Ripple\u2019s third major partnership in Korea this year. Earlier collaborations involved Kyobo Life Insurance, the country\u2019s largest life insurer, which is exploring on-chain government bond settlement, and Kbank, Korea\u2019s first internet-only bank, which is deploying institutional wallet-as-a-service infrastructure through Ripple Custody.<\/p>\n \ud83d\udea8 JUST IN: #Ripple<\/a> just signed its third Korean institution this year. Look at what each one bought. \ud83c\uddf0\ud83c\uddf7<\/p>\n \u2192 \ud83c\uddf0\ud83c\uddf7 Jeonbuk Bank, now the first regional bank in Korea on Ripple Payments: cross-border remittances<\/p>\n \u2192 \ud83c\uddf0\ud83c\uddf7 Kbank, Korea’s first internet-only bank: institutional wallet\u2026 https:\/\/t.co\/0BPc5o9u6l<\/a> pic.twitter.com\/ihgiXLwJtD<\/a><\/p>\n \u2014 RippleXity (@RippleXity) August 18, 2026<\/a><\/p>\n These deals show Korean financial institutions approaching Ripple for different needs. Whether its payments, custody or any related infrastructure \u2013 the big boys around the region expand their digital asset capabilities.<\/p>\n By enabling regional banks to deliver continuous, rapid cross-border settlement, the Ripple partnership<\/a> highlights how blockchain-based solutions can address longstanding inefficiencies in international payments and support businesses operating in global markets.<\/p>\n Explore DailyCoin\u2019s hottest crypto trends today: \u00d7<\/p>\n \n DailyCoin’s Vibe Check: Which way are you leaning towards after reading this article?\n <\/p>\n \n Bullish Never miss a market move<\/p>\n Get the biggest crypto stories, price insights, and DailyCoin exclusives in your inbox.<\/p>\n Subscribe<\/p>\n
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