XRP traded below the $1 threshold on Monday even as Ripple announced that South Korea's Jeonbuk Bank has adopted its cross-border payment network for business remittances.
Jeonbuk Bank, a prominent regional institution in South Korea, will leverage Ripple Payments to facilitate round-the-clock international transactions for its corporate clients. However, the specific digital asset or currency that will power the underlying transaction flows has not been disclosed. It remains unconfirmed whether the system will utilize XRP or Ripple's newly introduced RLUSD stablecoin.
The integration highlights continued enterprise adoption of Ripple's financial technology infrastructure in Asian banking markets, even as the native token's price faced downward pressure and dropped under $1 during the session.
