Jeonbuk Bank Partners with Ripple for Cross-Border Remittances

Jeonbuk Bank on Aug 18, 2026, became the first regional bank in Korea to deploy Ripple Payments for cross-border remittances. The platform replaces multi-hop SWIFT transfers with near real-time settlement that completes in seconds to minutes and operates around the clock. Jeonbuk Bank's target users include import-export companies, IT startups, and online content creators.

Fiona Murray, Ripple's Managing Director for Asia Pacific, said regional banks play a vital role in the real economy and called the deployment "a meaningful step for Korea's broader financial ecosystem." Park Choon-won, President of JB Jeonbuk Bank, said the partnership positions the bank as a digital finance leader meeting global standards. Financial terms were not disclosed. The deal follows Ripple's 2026 partnerships with Kyobo Life Insurance and Kbank in Korea.