Ripple Partners with Jeonbuk Bank for Real-Time Cross-Border Remittances in South Korea

Ripple and Jeonbuk Bank have partnered to modernize cross-border payments in South Korea's regional banking sector. This partnership marks a significant move towards real-time, 24/7 cross-border settlement for business customers.

Jeonbuk Bank will replace the traditional SWIFT network with Ripple Payments, offering faster, more transparent, and cost-effective remittance services to import-export companies, IT startups, and online content creators.

Fiona Murray, managing director of Asia Pacific at Ripple, noted that this partnership reflects growing momentum across South Korea's institutional financial sector. She added that companies are seeking infrastructure partners they can rely on for the long term.