Ripple has entered into an agreement with South Korean regional bank Jeonbuk Bank to implement the Ripple Payments platform for cross-border corporate transfers. As reported on August 18, 2026, Jeonbuk became the first regional bank in South Korea to connect to the service. The bank plans to offer the service to importers, exporters, technology startups, and online content creators who regularly send or receive international payments. Ripple states that settlements can take seconds or minutes, whereas traditional correspondent bank transfers can sometimes take several days. The service will operate around the clock, rather than only during local banking hours. However, the parties did not disclose the supported payment corridors, currencies, transaction volumes, fees, or commercial launch timeline. The announcement also does not say that Jeonbuk Bank will buy, hold, or transfer XRP. Ripple Payments may use combinations of fiat currencies, stablecoins, and digital assets depending on the corridor and regulatory requirements, but in this case there is no confirmed use of XRP or RLUSD. According to CoinGecko, despite the news, XRP fell by approximately 1.1% over 24 hours. Some publications claim that Jeonbuk Bank abandoned SWIFT, but Ripple presented the platform as an alternative to slow correspondent transfers and did not disclose all participating banks, payout providers, or messaging channels. According to the company, Ripple Payments’ global network operates in more than 60 markets and has processed over $100 billion since its launch. The deal with Jeonbuk expands Ripple’s presence in South Korea: earlier in 2026, the company entered into partnerships with internet bank Kbank and insurer Kyobo Life Insurance. Kbank tested blockchain transfers to the UAE and Thailand and later agreed to implement Ripple Custody wallet infrastructure. Kyobo Life piloted settlements for tokenized Korean government bonds. In 2025, Ripple also integrated RLUSD into Ripple Payments, and in June 2026, it launched RLUSD in Japan together with SBI Holdings following approval from Japan’s Financial Services Agency. Ripple Managing Director for the Asia-Pacific region Fiona Murray noted that the partnership reflects growing interest among Korean financial institutions. Jeonbuk Bank President Park Jun-won called the agreement “a new growth engine” for the bank. However, forecasts for revenue, the number of customers, and payment volumes were not disclosed, and international transfers will still undergo compliance checks, sanctions screening, and customer verification.$XRP

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