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Ripple to speed up money transfers in Thailand and South Korea

Industry News

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Ripple seems to rise from the ashes. The end of 2020 turned out a difficult period for the former third-largest cryptocurrency. SEC initiated a claim against the company, and the digital asset had lost more than 60% of its value. Meanwhile, at present, Ripple pretends to become the crypto Phoenix, as the cryptocurrency is ready for new all-time highs.

Global Money Express, one of the largest non-banking South-Korean providers of money transfers, announced its partnership with RippleNet. The cooperation aims to speed the money transfers between South Korea and Thailand. The South Korean provider stated that RippleNet made it possible to connect with the largest Thai bank, Siam Commercial Bank.

Ripple representatives highlighted that GME is not the only provider connected to RippleNet. Previously Cross ENF and Sentbe have chosen the same way.

As for Global Money Express, the company stakes much on this partnership, hoping to open up the European and North-American markets as well.

Within the last month, the XRP price has jumped from $0.53 to $1.30, and a set of positive news will allegedly drive it even higher. As for the SEC claim, the action is ahead, while Ripple lawyers are entirely optimistic.

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