Ripple has partnered with Jeonbuk Bank in South Korea to deploy Ripple Payments for cross-border remittances, making it the first regional bank in the country to adopt this service. The main objective is to reduce delays for businesses such as import-export companies, IT startups, and online content creators, as traditional transfers via SWIFT can take several days compared to seconds to minutes with Ripple. This announcement follows other Ripple deals in South Korea this year, notably with Kyobo Life Insurance for tokenized government bonds and KBank for blockchain integration testing. Additionally, the RLUSD stablecoin is now listed on the four largest crypto exchanges in the country: Upbit, Bithumb, Korbit, and Coinone.
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