The partnership between Ripple and Jeonbuk Bank deploys Ripple Payments for real-time stablecoin settlement.
Ripple has partnered with Jeonbuk Bank to deploy Ripple Payments for cross-border remittances in Korea. The deployment will let Jeonbuk Bank offer more cost-effective remittance services to global business customers.
The partnership follows Ripple’s collaborations with Kyobo Life Insurance, which explored on-chain government bond settlement, and Kbank, which deployed institutional wallet-as-a-service infrastructure through Ripple Custody. These partnerships reflect Ripple’s broader push across Korea’s institutional financial market.
Fiona Murray, Managing Director, Asia Pacific at Ripple, said: “This partnership with Jeonbuk Bank reflects the growing momentum we are seeing across Korea’s institutional financial sector, where leading financial institutions are actively building out their digital asset capabilities and seeking infrastructure partners they can rely on for the long term.”
Park Choon-won, President of JB Jeonbuk Bank, commented: “This partnership will become a new growth engine for the bank, and we will lead innovation that reshapes the financial paradigm, going beyond the adoption of new technology.”
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