Jeonbuk Bank to deploy Ripple Payments for cross-border remittances
18 August 2026 South Korea
Image: orpheus26/stock.adobe.com
Ripple has formed a partnership with South Korea’s Jeonbuk Bank to deploy Ripple Payments for cross-border remittances, enabling near-real-time settlement for businesses.
According to the firms, the collaboration will allow Jeonbuk Bank to offer faster, more transparent, and cost-effective services to its clients, replacing TradFi bank transfers that pass through multiple intermediaries via the SWIFT network.
Ripple’s partnership with the bank follows alliances with South Korean firms Kyobo Life Insurance and Kbank, formed earlier this year, as it seeks to expand its regional presence.
Commenting on the initiative, Fiona Murray, managing director, APAC at Ripple, says: “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.”
Park Choon-won, president of Jeonbuk Bank, adds: “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.”
According to the firms, the collaboration will allow Jeonbuk Bank to offer faster, more transparent, and cost-effective services to its clients, replacing TradFi bank transfers that pass through multiple intermediaries via the SWIFT network.
Ripple’s partnership with the bank follows alliances with South Korean firms Kyobo Life Insurance and Kbank, formed earlier this year, as it seeks to expand its regional presence.
Commenting on the initiative, Fiona Murray, managing director, APAC at Ripple, says: “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.”
Park Choon-won, president of Jeonbuk Bank, adds: “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.”
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