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New RippleNet-Based ODL Corridor Set Up Between Australia and Vietnam

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Thu, 06/17/2021 - 10:57
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Yuri Molchan
Lynx Global has launched a remittance corridor between Australia and Vietnam based on RippleNet
New RippleNet-Based ODL Corridor Set Up Between Australia and Vietnam
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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.

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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.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.