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