Ripple Secures Third Korean Partnership as Jeonbuk Bank Ditches SWIFT
Ripple Payments has secured its third partnership in South Korea this year, as Jeonbuk Bank adopts the service for increased efficiency. The regional bank ditched the SWIFT network to use Ripple's combination of payout partners and payment rails with blockchain technology.
This allows for 24/7 operations and liquidity outside normal banking hours, including support for KRW payouts in the Asia-Pacific region. Ripple integrated RLUSD, a highly regulated stablecoin, into Ripple Payments in 2025.
The announcement does not mention XRP being used to settle Jeonbuk's transactions. Despite this, Ripple has been building a broader Asia-Pacific footprint, with partnerships and initiatives across the region, including a $5 million commitment to University Blockchain Research Initiative funding in 2025.