Ripple partners GME Remittance to scale payments into Thailand

2021-8-12 14:43

XRP price jumped 10% as news of the partnership hit the market

Ripple has announced a new partnership with GME Remittance, a South Korean remittances provider, in a deal set to see the expansion and acceleration of cross-border payments and remittances from South Korea to Thailand.

The blockchain company is working on the project through SBI Ripple Asia, a subsidiary formed from the collaboration between Ripple and SBI Holdings, the news release clarified. The project will then use RippleNet, a distributed financial network for banks and other institutions.

By joining Ripple's network, the South Korean firm will access Thai bank Siam Commercial Bank, a move that will dramatically improve the overall processing of transactions for Thailand and the region.

Companies that use RippleNet do not have to pre-fund destination accounts as they can take advantage of the On-Demand Liquidity (ODL) service, a product that Ripple designed to help firms undertake cross-border transactions easily and at lower cost when compared with using legacy channels.

ODL allows banks and financial institutions to get the required liquidity via XRP, the native cryptocurrency in the Ripple ecosystem.

According to GME Remittance's COO, Subash Chandra Poudel, the partnership enables them to quickly launch into new remittance corridors, as well as benefit from the transaction speed and transparency that comes with using RippleNet.

Commenting on the partnership, Ripple VP of Corporate Strategy Emi Yoshikawa said that the remittance corridor has witnessed massive growth as more people than ever look to remittances to send money.

The positive news had an impact on XRP, with the price of the digital asset surging more than 10% on Wednesday morning. According to CoinGecko data, XRP price climbed to its highest level since 15 June, touching intraday highs of $0.90 on most major cryptocurrency exchanges.

The cryptocurrency's market cap rose to more than $41 billion, to see XRP dominance increase to 2.1% of the entire crypto market.

The post Ripple partners GME Remittance to scale payments into Thailand appeared first on Coin Journal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5143 (+0.67%)
Объем 24H $766.727m
Изменеия 24h: -1.25 %, 7d: 1.92 %
Cегодня L: $0.5077 - H: $0.5177
Капитализация $28.435b Rank 7
Цена в час новости $ 1.0145 (-49.31%)

ripple thailand scale payments partners gme remittance

Источник: coinjournal.net

ripple thailand → Результатов: 64


3rd-Biggest Thai Bank Teases Tantalizing News for Ripple (XRP) Bulls

By CCN: Siam Commercial Bank, Thailand’s third-largest financial institution, quietly teased some tantalizing news that should kick the Ripple (XRP) rumor mill into high gear. SCB Thailand Taps Ripple for Blockchain Payments Already, SCB Thailand launched a blockchain platform that uses the Ripple company’s xCurrent system to facilitate cheaper cross-border money transfers.

2019-5-25 01:01


Фото:

Ripple и Coinone выходят на рынок южнокорейских трансграничных переводов

Южнокорейская биржа криптовалют Coinone запустила платежную платформу Cross на базе RippleNet. Сервис позволяет совершать моментальные трансграничные платежи в Тайланд и Филиппины, сообщает Ripple в пресс-релизе.

2018-12-12 15:00


Биткоин-биржа Coinone запустила платежное приложение на базе технологии Ripple

Подразделение южнокорейской биржи Coinone запустило платежное приложение Cross, использующее технологию xCurrent от Ripple. . @coinone_info launches Cross in South Korea—the country’s first #blockchain-powered remittance service—giving customers new access to Thailand and the Philippines.

2018-12-12 21:06


дальше еще 15 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Lisbon Blockchain Conference to feature elite pitching event for crypto startups

The upcoming Lisbon Blockchain Conference is gearing up to offer founders an avenue to pitch their startups to potential investors. In an April 22 statement, the conference organizers said one of the side events will be a “closed door” pitching competition, allowing crypto startups to showcase their ideas to potential investors.

Bitcoin to hit 1 billion users by 2025? Market expert gives his insight

Raoul Pal compares crypto adoption with internet adoption. Solana's rise in the previous market cycle underscores the importance of adoption. The ongoing crypto bloodbath has sent shockwavesThe post Bitcoin to hit 1 billion users by 2025? Market expert gives his insight appeared first on AMBCrypto.

Суд США отказался признать вторичные продажи активов на Coinbase торговлей ценными бумагами

Второй окружной апелляционный суд США на Манхэттене отклонил иск клиентов американской криптобиржи Coinbase, требовавших отмены собственных транзакций и финансовой компенсации за продажу незарегистрированных ценных бумаг.