"" Ripple Payments, a blockchain-based payment system, has been adopted by Jeonbuk Bank, a regional South Korean bank. The bank announced its decision on August 18, citing the need for increased efficiency.
According to Ripple, its Payments system combines a network of payout partners and payment rails with blockchain technology. This enables 24/7 operations and provides liquidity outside normal banking hours. The system's current Asia-Pacific infrastructure supports KRW payouts.
The partnership does not involve the use of XRP for transaction settlement. Instead, Jeonbuk Bank will utilize Ripple Payments in conjunction with its existing systems.
This adoption marks the third Korean partnership for Ripple in 2026. Earlier this year, the company partnered with Kbank, Korea's first internet-only bank, and Kyobo Life Insurance, a leading life insurance firm. Ripple also partnered with BDACS, a South Korean institutional custody firm, in 2025.
Ripple's expansion into the Asia-Pacific region has been gaining momentum. The company has committed over $5 million in funding for the University Blockchain Research Initiative across the APAC region in 2025. In June 2026, Ripple and SBI Holdings launched RLUSD in Japan, following approval from the Japan Financial Services Agency.
Ripple's Growing Presence in South Korea
Ripple's adoption by Jeonbuk Bank underscores the growing demand for blockchain-based payment solutions in South Korea. The company's partnership with the bank is expected to enhance the efficiency of cross-border transactions and reduce settlement times.
Ripple's Blockchain Technology
Ripple's Payments system is built on a blockchain network that provides real-time settlement and low-cost transactions. The system's scalability and security features make it an attractive solution for financial institutions looking to enhance their payment capabilities.
Ripple's Commitment to APAC Region
Ripple's commitment to the Asia-Pacific region is evident in its recent partnerships and investments. The company's expansion into the region is expected to drive growth and innovation in the blockchain and fintech sectors.