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XRP Ripple joins hands with South Korea's Jeonbuk Bank to deepen cross-border payment cooperation
Although XRP prices are still rising significantly, Ripple is committed to consolidating its leading position in the blockchain ecosystem.
Currently, Ripple is continuing to drive global business growth by establishing new partnerships to expand its enterprise digital asset services.
Accordingly, Ripple announced that it has established a strategic partnership with Jeonbuk Bank, one of South Korea's most important regional banks.
The bank is part of JB Financial Group and will use Ripple payment infrastructure to process cross-border commercial payments.
According to Ripple's official statement, Jeonbuk Bank will become the first regional bank in South Korea to use Ripple payments.
This cooperation aims to provide faster cross-border payment services, especially for corporate customers such as import and export companies, technology start-ups, and online content creators engaged in international payments.
Thanks to Ripple, the payment process will be completed in minutes!
Thestatement states that Ripple payment infrastructure enables second-to-minute payment processing around the clock.
Thestatement further explained that after Jeonbuk Bank adopts Ripple payment, it can reduce the many intermediate links involved in the current SWIFT-based international remittance process and support real-time second-level payments.
Fiona Murray, General Manager of Ripple Asia Pacific, said the cooperation demonstrates the growing interest in digital asset infrastructure in South Korea's corporate finance sector.
Park Choon-won, chairman of JB Jeonbuk Bank, said in the announcement that through this cooperation, the bank plans to enhance its digital financial competitiveness and expand global financial services.
