South Korean Jeonbuk Bank has entered into a strategic partnership with the blockchain company Ripple to implement a modern cross‑border payment system designed for corporate clients. On Tuesday, Ripple representatives stated that using the Ripple Payments platform will allow the bank’s customers to carry out international transfers 24/7, and settlements will take only a few seconds or minutes. The new service is aimed at a wide range of businesses, including importers and exporters, technology startups, and creators of digital content.

According to Ripple, thanks to the new system, the bank will be able to process money transfers much faster and more cheaply compared to traditional banking intermediaries that use the SWIFT messaging network, where transactions can take several days. At the same time, the companies have not yet disclosed whether the service is already available to Jeonbuk Bank customers. It has also not been reported which specific transfer routes, currencies, fees, and expected transaction volumes the system will support. It remains unclear whether the native XRP token, the new RLUSD stablecoin, other digital assets, or exclusively fiat-based payment infrastructure will be used in the settlements.

This agreement marks Ripple’s third partnership with South Korean financial institutions since the beginning of the year. Previously, the blockchain company entered into an agreement with the insurance firm Kyobo Life Insurance to explore the possibilities of on‑chain settlements for government bonds, and also signed an agreement with the digital bank Kbank in the field of developing infrastructure for institutional wallets. The Cointelegraph publication contacted Ripple representatives for additional comments, but no response was received by the time the material was published.

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The material was prepared solely for informational and educational purposes and does not constitute financial advice or a recommendation.