- Jeonbuk Bank becomes South Korea’s first regional bank to deploy Ripple Payments.
- Corporate clients can settle international transfers in seconds to minutes, 24/7.
- Ripple has not confirmed XRP or RLUSD use within the Jeonbuk Bank payment service.
Ripple is expanding its South Korean banking presence through a new deal with Jeonbuk Bank. The lender will deploy Ripple Payments for corporate cross-border transfers and offer settlement around the clock.
Transactions can settle within seconds to minutes instead of the longer processing times common across correspondent banking networks. XRP traded near $0.994 following the announcement.
Ripple Payments Brings Faster Transfers to Jeonbuk Bank
Jeonbuk Bank becomes the first regional lender in South Korea to adopt Ripple Payments. The bank operates under JB Financial Group and serves customers from North Jeolla Province.
The service targets companies that regularly send money overseas. Import-export businesses, IT startups and online content creators are among the clients expected to use the platform.
Ripple Payments combines payment routing, currency conversion and settlement through one institutional system. Ripple says its wider payment network operates across more than 60 markets and has processed over $100 billion.
The platform also operates 24/7. That allows businesses to initiate transfers outside regular banking hours, including weekends and holidays.
Neither company has disclosed initial payment corridors, transaction fees or expected transfer volumes. They have also not confirmed a public rollout date.
Ripple Payments Deal Extends Ripple Growth Across Korea
The Jeonbuk agreement gives Ripple its third South Korean institutional partnership during 2026. Kyobo Life Insurance previously worked with Ripple on tokenized government bond settlement using Ripple Custody.
Kbank also began a proof-of-concept involving blockchain-based cross-border transactions. The latest Ripple Payments deal instead focuses directly on corporate remittance services.
Ripple has not confirmed that Jeonbuk Bank will use XRP, RLUSD or another digital asset for settlement. The announcement only identifies Ripple Payments as the infrastructure supporting the transfers.
Meanwhile, XRP recovered about 0.65% following the news and traded around $0.994. The token had fallen roughly 0.71% over the previous 24 hours.
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