On August 18, Ripple announced a collaboration with Jeonbuk Bank, marking it as the first regional bank in South Korea to adopt Ripple Payments for international money transfers. The service operates around the clock, enabling transactions to be completed in seconds or minutes, a significant improvement over the several days typically required for transfers via SWIFT, as stated by the company. This partnership represents Ripple's third agreement with South Korean financial institutions in 2026, following previous deals with Kyobo Life Insurance and Kbank.