Ripple, a US-based blockchain payments company, said it has partnered with Jeonbuk Bank, a South Korean regional lender, to use Ripple Payments for cross-border remittances for business customers.

Ripple said Jeonbuk Bank was the first regional bank in South Korea to use the service. It said the product can settle transactions in seconds to minutes and operates 24/7.

The company said the product can settle payments using fiat currencies, stablecoins, or digital assets, including XRP, depending on the setup.

The partnership follows Ripple’s earlier South Korea deals this year with Kyobo Life Insurance and Kbank.

Ripple has also said Sentbe, a remittance firm based in South Korea and Singapore, uses its network for international transfers.

🔗 Source: Ripple

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