Ripple announced that DeeMoney, a money transfer business based in Thailand, had joined its blockchain network RippleNet.
According to a press release, DeeMoney now leverages technology blockchain through the network RippleNet to improve its remittance service and offer more competitive rates to its customers.
Technology Ripple provides a single, automated system that speaks the same way to all of its 300 partners in the world. This cuts down on manual labor and intervention, which in turn reduces costs, ”said Aswin Phlaphongphanich, CEO of DeeMoney.
We learn that DeeMoney is the first non-banking institution in Thailand to operate the network RippleNet.
Read also : MoneyGram, a Ripple client paid in XRP
Fintech will use the solutions offered by RippleNet to process payments issued to Thailand from South Korea, Indonesia, Singapore or Israel more efficiently. Ultimately, it also plans to process outgoing payments from the country.
The digital banking revolution takes Thailand by storm and DeeMoney is a key player in this regard, ”added Marcus Treacher, client manager at Ripple.
Last month, the oldest bank in Egypt, National Bank of Egypt, also joined the California-based blockchain network to facilitate cross-border payments.
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
