Ripple, a provider of enterprise solutions for payments, custody and treasury, has partnered with South Korean regional lender Jeonbuk Bank to introduce Ripple Payments for cross-border remittances, making it the first regional bank in the country to deploy the service.
The partnership is designed to reduce the delays associated with traditional international transfers, which can take several days to complete as transactions move through intermediary banks and the SWIFT network. Ripple Payments can settle transactions within seconds or minutes and operates continuously, giving Jeonbuk Bank a faster route for international remittances.
The new capability will be available to Jeonbuk Bank’s global business customers, including import-export companies, IT start-ups and online content creators. The bank will be able to provide these businesses with cross-border payment services designed to offer faster settlement, greater visibility and lower costs.
The agreement adds to Ripple’s growing presence among South Korean financial institutions. Earlier this year, the company partnered with Kyobo Life Insurance to explore on-chain settlement for government bonds, while Kbank adopted Ripple Custody’s institutional wallet-as-a-service infrastructure. The different use cases reflect Ripple’s broader approach of providing payments, custody, treasury and wallet capabilities through its enterprise platform.
Fiona Murray, managing director, Asia Pacific at Ripple said, “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,” she said.
JB Jeonbuk Bank President Park Choon-won added, “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.”
Copyright © 2026 FinTech Global
