As stated in a press release published by IBS Intelligence, two companies that run on RippleNet, Currencycloud and SentBe, have joined forces to improve remittances from South Korea, helping customers have a better experience sending money abroad.
These companies are based in the U.K. and South Korea, respectively.
Thanks to this new collaboration, South Korean SentBe's customers will gain access to cheap FX. This will allow the company to grow and expand at a quicker pace into the Forex market globally. It will integrate APIs provided by Currencycloud into its tech of managing FX. Thus, its clients in Singapore and South Korea will be able to make faster transfers to the U.S., Canada, U.K., European Union and other major countries.
Besides, per the chief of SentBe, Alex Seongouk, this partnership with Currencycloud will enable his company to give clients a greater choice of solutions, which would include competitive FX rates. The integration of Currencycloud's technology has already landed SentBe more customers by offering them a more simple process of making transactions, including shorter times for making them.
As covered by U.Today earlier this week, recently, global banking giant J.P. Morgan inked a partnership with Ripple partner Al Fardan Exchange LLC based in the UAE. Together, they plan to offer their clients value transfers conducted within a really short time.
Clients will be able to transfer fiat currencies USD, GBP, EUR and South African Rand (ZAR) to various parts of the world.