XRP
Ripple partners with South Korea's Jeonbuk Bank for cross-border payments
Ripple announced an agreement with a South Korean regional bank to deploy its payments infrastructure for international business transfers, though the role of XRP in the arrangement remains unspecified.
Ripple said on August 18, 2026 that it had partnered with Jeonbuk Bank to roll out Ripple Payments for cross-border business remittances. The bank will become the first in its region to offer real-time settlement to corporate clients, addressing a market gap where traditional transfers through intermediary banks and SWIFT networks typically take several days and incur multiple fees.
Jeonbuk Bank plans to serve import-export companies, IT startups and online content creators through the service. According to the announcement, Ripple Payments can complete transfers in seconds or minutes while operating continuously, compared with the slower pace of conventional international payment infrastructure.
Ripple's Asia Pacific managing director characterised the deal as part of a broader trend among South Korean financial institutions building digital asset capabilities. The Jeonbuk partnership marks Ripple's third agreement in the region. However, the announcement does not specify whether XRP tokens will play a role in the payment flows or settlement processes.
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