Ripple Payments Expands Cross-Border Services to Support Fiat and Stablecoin Settlement

Jeonbuk Bank, a South Korean regional lender, is partnering with blockchain payments company Ripple as banks seek faster and cheaper ways to move money across borders. Conventional transfers routed through the SWIFT network can involve multiple correspondent banks, adding fees and delays. Deploying Ripple Payments would give Jeonbuk a new channel for corporate remittances and underscores growing interest among smaller lenders in blockchain-based payment infrastructure.

Under the agreement, Jeonbuk Bank will deploy Ripple Payments for corporate customers, offering cross-border transfers around the clock with funds advertised to arrive in seconds to minutes. Ripple described the deal as its first cross-border remittance partnership with a Korean regional bank. As of Aug. 25, 2026, the companies had not disclosed a launch date or said whether transactions would settle using XRP, a stablecoin or another digital asset.

Global commercial payments provider Convera operates a financial network spanning more than 200 countries and territories and over 140 currencies, while Ripple provides blockchain-based payments, custody and stablecoin infrastructure. The partnership will allow businesses to continue sending and receiving fiat currency while using regulated stablecoins for intermediate settlement, addressing the speed and liquidity constraints of traditional correspondent banking in some markets.

Convera and Ripple announced the strategic partnership on March 31, 2026, without disclosing its value. Convera will orchestrate end-to-end payment and foreign-exchange workflows, while Ripple will provide liquidity, fiat and digital-asset on- and off-ramps, and cross-border settlement. Funds will be converted from fiat into regulated stablecoins for intermediate settlement and then exchanged back into the recipient market's local currency, with initial efforts focused on corridors where traditional payment options are limited.

Ripple, which has long used blockchain infrastructure to facilitate cross-border payments for businesses, has introduced its Unified Stablecoin Platform, bringing stablecoin issuance, transfers and settlement into a single workflow. For multinational companies, the platform is designed to reduce the layers of correspondent banks involved while improving visibility into fund flows and accelerating payments.

The latest reports say Ripple is using the platform to drive global enterprise adoption, allowing customers to make and settle cross-border payments with stablecoins. As of July 20, 2026, available information did not disclose the investment amount, transaction volume, initial enterprise customers or number of countries covered. Attention will now turn to the formal launch date, regulatory progress and actual payment volumes.

Ripple established a presence in Brazil in 2019, launched crypto-enabled cross-border payments with Travelex Bank in 2022 and introduced an end-to-end service with Mercado Bitcoin in 2024. As the Central Bank of Brazil establishes a regulatory framework for virtual asset service providers, regulatory approval has become essential for offering payments, custody and stablecoin services. This has also made Brazil a key base for Ripple's expansion into Latin America's institutional market.

Ripple announced on March 17, 2026, that it was expanding its Brazilian operations by bringing together Ripple Payments, digital asset custody, prime brokerage and treasury management. It also plans to apply to the Central Bank of Brazil for a VASP license. Ripple's payment network has processed more than $100 billion globally across over 60 markets. Its clients include Banco Genial, Braza Bank and Nomad, which has more than 3 million users.