Ripple has expanded its presence in South Korea through a new partnership with Jeonbuk Bank, marking another major development for XRP and Ripple’s payment technology.
The South Korean regional bank will use Ripple Payments to support real-time cross-border settlements, providing business customers with an alternative to the traditional SWIFT payment network.
Jeonbuk Bank will become the first regional bank in South Korea to deploy Ripple Payments for cross-border transactions.
Ripple and Jeonbuk Bank Expand Cross-Border Payments
Jeonbuk Bank has selected Ripple Payments to modernize its international settlement infrastructure.
The system will enable the bank to process cross-border payments 24 hours a day, seven days a week, instead of relying solely on traditional banking settlement processes such as SWIFT.
Jeonbuk Bank is a subsidiary of JB Financial Group. Through the partnership, the bank aims to offer faster, more transparent and potentially more cost-effective international remittance services to its commercial customers.
Businesses expected to benefit include import-export companies, technology startups and online content creators that regularly make or receive international payments.
Fiona Murray, Ripple’s managing director for Asia Pacific, said the agreement demonstrates the growing interest in digital asset technology across South Korea’s institutional financial sector.
She also noted that financial companies are increasingly searching for infrastructure providers capable of supporting their long-term digital asset strategies.
Ripple Strengthens Its Presence in South Korea
The Jeonbuk Bank agreement represents Ripple’s third partnership in South Korea this year, following previous collaborations with Kyobo Life Insurance and Kbank.
These partnerships cover different parts of the digital asset ecosystem, including payments, custody, treasury services and tokenization.
The developments indicate that South Korean financial institutions are gradually exploring blockchain-based infrastructure for a wider range of traditional financial services.
XRP Price Reacts to Ripple Partnership News
XRP recorded a modest recovery following news of Ripple’s partnership with Jeonbuk Bank.
The XRP price climbed by more than 0.65% after the announcement, trading around $0.995 at the time referenced in the report. The cryptocurrency was still recovering after falling nearly 1.50% over the previous 24 hours.
During that period, XRP traded between a low of approximately $0.988 and a high of $1.01.
Trading volume also increased by around 40% over 24 hours, suggesting stronger activity among market participants.
The report additionally noted that major Wall Street institutions, including JPMorgan and Morgan Stanley, had increased exposure to XRP exchange-traded funds.
XRP Faces an Important Technical Level
Despite the positive Ripple news, XRP had fallen below its 50-day simple moving average (SMA) on the daily chart.
The move came as spot XRP ETF inflows slowed sharply.
According to the price analysis referenced in the original report, XRP could potentially recover toward $1.05 if broader market sentiment remains supportive.
However, traders will likely continue watching technical levels and institutional demand closely as XRP attempts to regain momentum.
XRP Futures Open Interest Moves Higher
Activity in the derivatives market also increased following the Ripple partnership announcement.
CoinGlass data cited in the report showed that total XRP futures open interest rose approximately 0.60% within one hour to $2.77 billion.
XRP futures open interest on CME increased by more than 0.44%, while Binance recorded an increase of approximately 0.83%.
The rise in derivatives activity suggests traders were increasing their exposure following the latest Ripple news.
Institutional Adoption Remains a Key Ripple Theme
Ripple’s partnership with Jeonbuk Bank adds to the broader trend of financial institutions exploring blockchain technology for payments and digital assets.
As institutional adoption grows, banks and other financial companies are also paying greater attention to secure crypto custody solutions for managing digital assets and tokenized financial products.
Ripple’s growing number of partnerships in South Korea could therefore become an important part of its wider strategy to expand blockchain-based financial infrastructure across the Asia-Pacific region.
