Ripple News: Jeonbuk Bank Adopts Ripple for Faster Transfers
Key Insights
- Ripple news centered on Jeonbuk Bank adopting Ripple Payments in Korea.
- The bank gained near real-time, 24/7 cross-border settlement.
- Ripple added its third Korean financial partnership this year.
Ripple expanded its South Korean banking footprint on Aug. 18 through a new Jeonbuk Bank partnership. The bank became Korea’s first regional lender to deploy Ripple Payments for business cross-border remittances. Ripple said the service would provide near real-time settlement and operate around the clock.
The deal mattered because it extended Ripple’s institutional strategy beyond custody and tokenization. Jeonbuk Bank joined Kyobo Life Insurance and Kbank as Ripple’s third Korean financial partner this year. The agreement also placed crypto payments inside a regulated banking use case focused on commercial transfers.
Ripple News: Jeonbuk Bank Adds Near Real-Time Settlement
Ripple said Jeonbuk Bank would use Ripple Payments for international business transfers. The service targets import-export companies, information technology startups, and online content creators. Ripple said these customers had historically depended on transfers that could take days.
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