Ripple announced a partnership with Jeonbuk Bank on August 18, 2026, making the Seoul-based institution the first regional bank in Korea to deploy Ripple Payments for cross-border remittances. The deployment enables near real-time settlement for businesses including import-export companies, IT startups, and online content creators, replacing traditional SWIFT transfers that typically take days to complete.
- Settlement Speed: Seconds to minutes versus days for traditional bank transfers
- Operating Model: 24/7 availability with transparent, cost-effective pricing
- Prior Partnerships: Kyobo Life Insurance and Kbank in 2026
- Founding Year: Ripple established in 2012
Traditional cross-border payments route transactions through multiple intermediary banks via SWIFT, creating delays and opacity. Ripple’s blockchain-based infrastructure removes this intermediary layer, completing transfers in near real-time while operating continuously. Jeonbuk Bank can now offer faster remittance services to its customer base of small and mid-sized enterprises engaged in international commerce.
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.
The Jeonbuk Bank deal marks Ripple‘s third major Korea partnership in 2026, following deployments with Kyobo Life Insurance for on-chain government bond settlement and Kbank for institutional wallet-as-a-service infrastructure. Each partnership addresses distinct institutional needs across custody, payments, treasury, and wallet infrastructure, demonstrating Ripple’s integrated platform approach across Korea’s financial sector.
Ripple, founded in 2012, develops blockchain-based enterprise solutions for traditional and digital finance, offering global payments, custody, liquidity, and treasury management services supported by the stablecoin RLUSD and cryptocurrency XRP.
