TLDR
- Ripple has partnered with South Korea’s Jeonbuk Bank to deploy its Ripple Payments platform for cross-border business remittances.
- Jeonbuk becomes the first South Korean regional bank to adopt Ripple Payments.
- Settlement is described as “near real-time,” completing in seconds to minutes versus days via traditional banking.
- Key details including payment corridors, fees, launch date, and settlement assets have not been disclosed.
- This is Ripple’s third South Korean banking partnership in 2026, following deals with Kbank and Kyobo Life Insurance.
Ripple has announced a partnership with Jeonbuk Bank, a South Korean regional lender, to bring its cross-border payments platform to business customers. The deal was announced on August 18, 2026.
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 is part of JB Financial Group and is based in North Jeolla Province. It becomes the first regional bank in South Korea to deploy Ripple Payments.
What Ripple Payments Offers
The platform is designed to let businesses settle international transfers in seconds to minutes. Traditional transfers routed through the SWIFT network and intermediary banks can take several days to complete.
Ripple Payments handles payment routing, foreign exchange, and settlement through a single institutional connection. The company says its global network covers more than 60 markets and has processed over $100 billion since launch.
The service will run around the clock, unlike conventional banking which is limited to local business hours. This is aimed at businesses that regularly send or receive money internationally.
Target customers include importers, exporters, technology startups, and online content creators. Regional businesses often rely on multiple intermediary banks when their local institution lacks a direct relationship with the recipient’s bank.
Key Details Still Missing
Neither Ripple nor Jeonbuk Bank disclosed which payment corridors will be supported at launch. Fees, supported currencies, and expected transaction volumes were also not shared.
The companies did not confirm whether the service is currently live for customers. Jeonbuk Bank’s public product pages did not show detailed pricing or corridor information at the time of the announcement.
Ripple did not name XRP, its RLUSD stablecoin, or any Korean won stablecoin as a settlement asset for the partnership. No onchain transaction records were disclosed.
Actual transfer times may vary depending on the destination market, compliance checks, and local banking infrastructure. Near real-time settlement does not mean every payment will arrive instantly.
Ripple’s Growing South Korean Presence
This is Ripple’s third partnership with a South Korean financial institution in 2026. Earlier this year, Ripple signed agreements with internet-only bank Kbank and insurer Kyobo Life Insurance.
Kbank tested blockchain remittances to the United Arab Emirates and Thailand, focused on wallet infrastructure. Kyobo Life piloted settlement of tokenized Korean government bonds using Ripple Custody.
Jeonbuk’s deal is more directly focused on cross-border remittances for business customers. Ripple’s Asia Pacific managing director Fiona Murray said the partnership reflected growing interest from Korean financial institutions.
Jeonbuk Bank President Park Choon-won said the deal would help the bank compete as a digital finance provider. “This partnership will become a new growth engine for the bank,” he said.
The bank has not disclosed revenue targets, customer numbers, or projected payment volumes tied to the new service.
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