RippleNet member 2C2P has inked a strategic partnership with Ant Group, the parent company of Alipay, according to a recently published press release. Together the two companies intend to expand adoption and provide innovation to digital payments in Southeast Asia.
When the partnership is completed, Ant Group will become the majority shareholder of 2C2P. The former is an affiliate company of the Chinese giant Alibaba Group.
#Ripple partner 2C2P entered a strategic partnership with Ant Group to "further digital payment adoption & innovation in SE Asia amid economic recovery". Connecting to AliPay+ will help expand their merchant base.https://t.co/OKmrdJW0MC— WrathofKahneman (@WKahneman) April 18, 2022
Ant Group partners with a RippleNet client
As part of the partnership, according to the press release, 2C2P's pool of merchants will connect to Alipay, thus expanding the 250 payment options the RippleNet client uses at the moment to a lot more e-wallets and payment options used in Southeast Asia.
This will allow merchants to access more than a billion customers around the world easily.
The chief executive of 2C2P, who also founded it, Aung Kyaw Moe, stated that over the past few years, digital payment development has been rising pretty fast and, in Asia in particular, payments via mobile wallets have become popular. According to him, the partnership with Ant Group will allow the company to expand internationally.
2C2P's headquarters is based in Singapore. It operates in key Asian markets, including Malaysia and Thailand.
2C2P joins RippleNet
In 2020, 2C2P's regional remittance venue in Southeast Asia, called easy2send, set up a new payments corridor that started in Thailand and ended in Singapore. It was built in collaboration with Nium and its partner fintech giant Ripple based in San Francisco, California.
Easy2send emerged in 2019 and it supported money transfers to Myanmar and Cambodia from Thailand. Now, it is also expanding to other parts of Southeast Asia.
When the partnership launched, the CEO of 2C2P Thailand, Piyachart Ratanaprasartporn, stated that the company's partnership with Nium and Ripple will allow easy2send to perform cross-border payments in a more efficient way.