Ripple Partners with South Korea's Leading Payments Service Provider

Alex Dovbnya

Ripple and GME Remittance have collaborated to speed up remittances between South Korea and Thailand

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Wed, 11/08/2021 - 4:53

Ripple Partners with South Korea's Leading Payments Service Provider

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GME Remittance, one of the leading companies in South Korea, has announced a tie-up with SBI Ripple Asia, a subsidiary distributed ledger company Ripple, in order to enable faster payments to Thailand.

By becoming part of the RippleNet network, GME Remittance will be able to swiftly open new remittance corridors across the globe, according to COO Subash Chandra Poudel:

We chose Ripple as our partner because with RippleNet we can launch into new countries with new partners within 1-2 weeks. This has drastically reduced the time to market and provides us with an edge compared to our competitors.

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Siam Commercial Bank, Thailand's oldest bank and a longtime Ripple partner, has connected with GME Remittance in order to receive money transfers from South Korea.

Ripple has a strong presence in South Korea with such partners as Coinone Transfer, Sentbe, and Hanpass.

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About the author

Alex Dovbnya

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.