Ripple’s partnership with Jeonbuk Bank will give regional businesses access to near-real-time cross-border settlement. The service targets international transfers that can take days to complete and provide limited visibility through traditional banking channels.
Key Takeaways
Jeonbuk Bank is Korea’s first regional lender to use Ripple Payments.The platform is designed to provide settlement within seconds or minutes.The agreement extends Ripple’s Korean footprint across payments, custody, and tokenization.Ripple Managing Director for Asia Pacific Fiona Murray said:
“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.”
“Regional banks play a vital role in the real economy. As the first regional bank in Korea to deploy Ripple Payments, Jeonbuk Bank is extending near real-time cross-border settlement directly to the businesses it serves, and this is a meaningful step for Korea’s broader financial ecosystem,” the executive added.
Ripple Extends Its Institutional Payments StrategyChief Executive Officer Brad Garlinghouse said in June that businesses Ripple acquired process approximately $16 trillion in annual payments and clearing activity. He said digital assets represented close to zero percent of that volume, framing the gap as an opportunity to expand XRP settlement across institutional workflows.
Institutional Use Moves Beyond RemittancesPayments represent one part of Ripple’s broader institutional expansion, which also includes brokerage, custody, and market infrastructure. An April integration gave Ripple Prime clients access to bitcoin options on Bullish and permitted RLUSD for options trading, connecting the brokerage’s customers with spot, futures, perpetuals, and regulated crypto derivatives markets.
JB Jeonbuk Bank President Park Choon-won said:
“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.”
“This partnership will become a new growth engine for the bank, and we will lead innovation that reshapes the financial paradigm, going beyond the adoption of new technology,” the executive added.
Korea Balances Innovation With Operational Controls
