1 month ago
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Key Takeaways
- Jeonbuk will deploy Ripple Payments.
- Business transfers settle within minutes.
- The service runs around the clock.
- XRP and RLUSD roles remain unknown.
- Ripple now has three Korean deals.
Ripple announced its partnership with Jeonbuk Bank on August 18. The agreement will bring Ripple Payments to the bank’s business customers, including import-export companies, IT startups and online content creators.
Jeonbuk Bank becomes the first regional bank in Korea to deploy the payment service. The target is straightforward: cross-border payments that settle in seconds to minutes and remain available 24 hours a day.
A payment service for companies moving money abroad
Businesses that import goods, pay overseas suppliers or receive revenue from abroad often depend on correspondent banking. A payment can pass through several in...
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