Ripple, a blockchain payments company, has partnered with Jeonbuk Bank, a South Korean regional bank. The partnership is aimed to introduce faster cross-border payment services in South Korea. The collaboration makes Jeonbuk Bank the first regional bank in the country to deploy Ripple Payments for cross-border remittances. The partnership will provide real-time settlement for businesses that previously relied on traditional international payment processes that could take several days. Together, they will improve the speed, transparency, and efficiency of cross-border transactions. Earlier, Solana and KSNET also partnered to advance blockchain payments in South Korea.
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…
— Ripple (@Ripple) August 18, 2026
Jeonbuk Bank Adopts Ripple Payments for Faster Remittances
Under the partnership, Jeonbuk Bank will use Ripple Payments, a blockchain-based payment solution of Ripple, to streamline its international remittance process. The solution is designed to reduce reliance on traditional multi-intermediary payment structures associated with the SWIFT network. Transactions will now settle within seconds or minutes rather than taking several days. The service is also designed to operate around the clock 27/7. This will provide businesses with greater flexibility when conducting international payments.
Although the partnership is for the Korean market initially, Jeonbuk Bank plans to make the service available to its global business customers to. This will also include import-export companies, IT startups and online content creators. The initiative is intended to provide these businesses with more efficient cross-border payment options while reducing transaction costs.
The Management Highlights Korea’s Digital Finance Shift
Ripple’s Managing Director for Asia Pacific, Fiona Murray, highlighted the growing adoption of digital asset infrastructure among Korean financial institutions. As per her, the partnership is expected to allow Jeonbuk Bank to extend near real-time international settlement services to businesses.
Jeonbuk Bank President Park Choon-won described the partnership as an important step in the bank’s efforts to strengthen its digital finance capabilities. He said that the collaboration is expected to support the bank’s transition toward globally oriented financial services.
This collab is Ripple’s third major partnership in South Korea this year. Earlier collaborations included a partnership with Kyobo Life Insurance and an agreement with Kbank through Ripple Custody.