South Korea’s Jeonbuk Bank has partnered with blockchain payments company Ripple to deploy its cross-border payment system for business customers.

On Tuesday, Ripple said its Ripple Payments platform would allow the bank’s customers to settle overseas transfers in seconds to minutes, with operations available around the clock. The service is aimed at businesses such as import-export companies, technology startups and online content creators.

Ripple said the system would give the bank faster and less expensive remittance capabilities than conventional transfers routed through intermediary banks via the SWIFT messaging network, which can take several days. For businesses that send or receive payments across borders, the appeal is less about novelty than reducing time spent waiting for funds to clear and keeping payment operations moving outside standard banking hours.

The companies did not disclose whether the service is already available to Jeonbuk Bank customers. They also did not identify the supported payment corridors, currencies, fees or expected transaction volumes. In addition, they did not say whether transfers would use XRP, Ripple’s RLUSD stablecoin, another digital asset or fiat-based settlement rails.

The agreement is Ripple’s third partnership with a South Korean financial institution this year. Ripple previously partnered with Kyobo Life Insurance to explore onchain government bond settlement and with internet-only Kbank on institutional wallet infrastructure. The sequence points to Ripple continuing to expand its footprint in South Korea’s financial sector through different product lines, from payments to custody and settlement-related infrastructure, while leaving the specific commercial rollout details of each arrangement unclear.

Cointelegraph contacted Ripple for more information but did not receive a response before publication.

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