Ripple and Jeonbuk Bank Partner to Modernize Cross-border Payments in Korea SEOUL, KOREA, 18 August 2026 – Ripple, a company specializing in blockchain-based financial solutions, has partnered with Jeonbuk Bank to introduce advanced cross-border payment systems for businesses in South Korea. This collaboration marks the first time a regional bank in the country has adopted Ripple’s payment technology, enabling near real-time settlement of international transactions. Previously, such transfers relied on the SWIFT network, which often took days to process. Ripple’s system, however, completes transactions in seconds to minutes and operates around the clock, offering faster, more transparent, and cost-effective remittance services to Jeonbuk Bank’s clients, including import-export firms, tech startups, and online content creators. Fiona Murray, Ripple’s Managing Director for Asia Pacific, highlighted the significance of the partnership. She noted that Jeonbuk Bank’s adoption of Ripple Payments reflects the growing interest among South Korea’s financial institutions in digital asset capabilities. By integrating Ripple’s technology, the bank is enhancing its role in supporting the real economy and contributing to the broader evolution of Korea’s financial ecosystem. Park Choon-won, President of Jeonbuk Bank, emphasized the strategic importance of the partnership. He stated that the collaboration positions the bank to transition from a regional institution to a leader in digital finance, aligning with global standards. The partnership is expected to serve as a growth driver for the bank, fostering innovation that redefines financial practices beyond mere technological adoption. This announcement follows Ripple’s recent collaborations with other major South Korean financial entities.#south_korea #ripple #jeonbuk_bank #fiona_murray #park_choon_won
