In a groundbreaking move, Travelex, the renowned foreign exchange brand, has announced a significant collaboration with the National Bank of Cambodia, marking a pivotal moment for the Cambodian Riel (KHR).
Travelex's latest endeavor will enable travelers passing through Singapore's Changi Airport to effortlessly trade Cambodia's national currency, the Khmer Riel, further solidifying its presence in one of Asia's most prominent financial hubs.
This strategic move by Travelex is the first time the Khmer Riel can be traded alongside other currencies in Singapore, marking a significant development for the currency as it gains international recognition and utility.
Ripple, XRP and Asia
Interestingly, this strategic collaboration paves the way for potential future involvement of Ripple and XRP in the Cambodian market.
Travelex's Ripple partnership dates back to August of the previous year when the company first engaged with RippleNet's ODL to enhance cross-border payments between enterprises through the use of XRP in Brazil.
Now, Travelex has already taken a leap forward in another part of the globe. This could potentially open the door for Ripple and maybe XRP to enter this market in the future with the help of such ambitious partners.
As we know from the latest news, Asia has a special position on Ripple's map, and the company is only increasing its network of partners in this actively developing part of the world.
Tomiwabold Olajide
