Ripple partners with South Korea’s Jeonbuk Bank for cross-border payments

Ripple has partnered with South Korea's Jeonbuk Bank to deploy Ripple Payments for real-time cross-border remittances.In a statement released Tuesday, Ripple said the partnership will enable 24/7 settlement, with transactions completed in seconds to minutes, as compared with traditional SWIFT transfers that can take days to process.Through the partnership, Jeonbuk Bank will deploy Ripple Payments to offer faster remittance services to its clients, including import-export companies, IT startups, and online content creators, the statement said."Regional banks play a vital role in the real economy," Fiona Murray, managing director for Asia Pacific at Ripple, said in the statement. "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."The Jeonbuk Bank collaboration marks Ripple's third partnership in South Korea this year, following those with Kyobo Life Insurance and Kbank.In April, Ripple partnered with Kyobo to enable tokenized government bond transactions through Ripple Custody. Later that same month, KBank said it was working with Ripple on a proof-of-concept for onchain cross-border transactions.While Ripple has been actively expanding its presence in South Korea this year, the local crypto market has seen a notable decline in activity, with Upbit and Bithumb both posting nearly 50% revenue drops in the first half of 2026.XRP (XRP) dropped 0.7% in the past 24 hours leading up to 2:10 a.m. on Tuesday, ET, according to The Block's XRP price page.Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.