Publicly-traded company Lynx Global Digital Finance Corporation has announced that its subsidiary Direct Agent 5 (DA5) has kicked off a direct remittance corridor to Vietnam after integration the with local payments provider FinFan.
The latter is Vietnam’s biggest remittance company and it works on RippleNet.
DA5 teams up with FinFan to set up a remittance corridor
The Australian subsidiary of Lynx – Arkin Technologies – has been rebranded as DA5 Australia for marketing purposes and for the provision of operations in the country.
It obtained a Remittance license and a license of Digital Currency Exchange Services Provider from the Australian authorities.
Now, the company can provide services in the sphere of cross-border money transfer and in the area of exchange and trading digital currency for fiat in that market.
It will be collaborating with the Vietnam’s FinFan remittance services provider regarding real-time payments that clients will be able to receive to ATMs or directly to their bank accounts, cards and e-wallets.
DA5 will send cash to Vietnam via RippleNet
Last year, when the pandemic broke out, FinFan was Vietnam’s first neo-banking institution that began using RippleNet and the Ripple XRP blockchain network.
Now, as part of the partnership, Lynx and its subsidiary DA5 will have full-scale access to RippleNet for seamless cross-border payments.