Jeonbuk Bank adopts Ripple for payments amid Asian crypto regulatory shifts

Jeonbuk Bank has become the first regional bank in South Korea to adopt Ripple Payments for corporate cross-border remittances. The service is designed for import-export companies, IT startups, and online content creators, aiming to provide faster and more efficient settlement compared to the traditional SWIFT network.

Simultaneously, the regulatory landscape for digital assets is shifting across Asia. In South Korea, BitGo Korea has secured registration as a Virtual Asset Service Provider (VASP) from the Korea Financial Intelligence Unit (KoFIU). Meanwhile, South Korean lawmakers are seeking to expand the authority of the FIU to investigate unregistered cryptocurrency firms.

In Pakistan, the Pakistan Virtual Asset Regulatory Authority (PVARA) has launched a licensing framework under the Virtual Asset Law 2026. This system covers various services, including exchanges, custody, and mining. Existing operators must apply for a No Objection Certificate (NOC) by September 5, 2026, to avoid business suspension. In Japan, Laser Digital Japan, a Nomura affiliate, has completed its registration as a crypto-asset exchange provider.