Jeonbuk Bank in South Korea has entered into a partnership with Ripple and will use the company’s blockchain technology for cross-border payments, according to a Techub News brief citing Cointelegraph. The update links the bank tie-up with a separate policy move in Pakistan, where authorities have started the process of issuing licenses for cryptocurrency exchanges. Ripple, which focuses on blockchain-based cross-border payment solutions, said its network is already used by multiple financial institutions worldwide to improve the efficiency of international remittances. The Jeonbuk Bank agreement points to continued business expansion for Ripple in Asia, while Pakistan’s licensing move signals progress in establishing a formal route for crypto exchange operations.
Jeonbuk Bank in South Korea has partnered with Ripple and will use Ripple’s blockchain technology for cross-border payments, according to a Techub News brief that cited Cointelegraph.
In a separate development, Pakistan has started the process of issuing licenses for cryptocurrency exchanges.
Ripple is a blockchain company focused on cross-border payment solutions. Its network is used by multiple financial institutions around the world to improve the efficiency of international remittances. Cointelegraph said the cooperation with Jeonbuk Bank reflects Ripple’s expansion in the Asian market.
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