- Ripple has partnered with South Korea’s Jeonbuk Bank to enable faster 24/7 cross-border payments through Ripple Payments.
- The deal marks Ripple’s third South Korean partnership this year as it expands its payments network.
Ripple has partnered with South Korean regional lender Jeonbuk Bank to modernize cross-border remittances. The deal will bring Ripple Payments to the bank and support faster international transfers around the clock.
The service will allow Jeonbuk Bank customers to settle cross-border payments within seconds or minutes. Traditional SWIFT transfers can take several days to complete, creating delays for businesses that rely on international payments.
Jeonbuk Bank Targets Faster International Transfers
Jeonbuk Bank will use Ripple Payments to provide faster remittance services to businesses and other customers. The service will target import-export companies, IT startups, and online content creators.
The partnership will also support 24/7 settlement. This means customers can send and receive international payments without relying on traditional banking hours.
Ripple said the partnership makes Jeonbuk Bank the first regional bank in South Korea to deploy Ripple Payments. The move could help regional financial institutions provide faster cross-border services to local businesses.
Ripple Expands Its South Korean Presence
The Jeonbuk Bank deal marks Ripple’s third partnership in South Korea this year. The company previously announced collaborations with Kyobo Life Insurance and Kbank.
In April, Ripple partnered with Kyobo Life Insurance to support tokenized government bond transactions through Ripple Custody. Kbank also began working with Ripple on a proof-of-concept for onchain cross-border transactions.
The latest deal shows Ripple continuing to expand its payments infrastructure across South Korea.
XRP Faces a Key Test
Ripple’s latest partnership comes as activity across South Korea’s crypto market weakens. Upbit and Bithumb, two of the country’s largest crypto exchanges, reported nearly 50% revenue declines in the first half of 2026.
XRP also faced selling pressure as the partnership emerged. XRP fell about 0.7% over the previous 24 hours, according to The Block’s price data.
Still, Ripple’s growing network of partnerships could strengthen its position in the global payments sector. Its latest deal with Jeonbuk Bank also highlights the growing demand for faster cross-border settlement solutions.
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Disclaimer:
This article is for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry risk, and readers should conduct their own research before making any investment decisions.
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