Ripple In Partnership With DeeMoney To Enable Outbound Transfer From Thailand

Must Read

Tezos (XTZ) Rally-Up Collapsed Against The Level Of $1.60

Tezos prices facing heavy resistance from the price level of$ 1.60 After enjoying a significant upsurge, XTZ prices...

Binance Coin (BNB) Struggling To Maintain Its Presence Above The Level $12 

Binance Coin(BNB)  Struggling To Maintain Its Presence Above The Level $12  BNB again acquired negative divergence and showing...

Ripple (XRP) Facing Increase In The Selling Volume Above Level Of $0.1700

The cryptocurrency is performing positively in the market with a slight gain in its prices. Ripple prices are...
12593556_10205735480657537_3835976740831778163_o
Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • A Thailand based fintech company DeeMoney specialized in digital cross-border money transfers announced today its platform started processing live transactions in partnership with Ripple.
  • The DeeMoney offers same-day transactions into all Thai bank accounts.
  • With the second phase of execution, the DeeMoney will backend RippleNet to enable outbound transfer from Thailand and will prove the best partner in target countries for payouts.

A Thailand based fintech company DeeMoney specialized in digital cross-border money transfers announced today its platform started processing live transactions in partnership with Ripple.

DeeMoney to be the first non-bank organization to use RippleNet in Thailand

Advertisement


Ripple is the blockchain solution built for enterprise use. It is the cost-effective cryptocurrency used for global payments. The RippleNet is a Ripple’s global financial payments network and makes DeeMoney the first non-bank organization to use RippleNet in Thailand.

To process inbound payments into Thailand, DeeMoney is currently using RippleNet. Specifically, the major payment gateway from South Korea, Indonesia, Singapore, Israel, the Middle East, as well as the Gulf regions.

It is estimated that over a million Thais who are working globally, transfer money back home. It offers same-day transactions into all Thai bank accounts. This makes it an efficient payment partner for global remittance companies.

The transfer process is more competent with RippleNet for those who send money from various financial organizations with the promising rates.

With the second phase of execution, the DeeMoney will backend RippleNet to enable outbound transfer from Thailand and will prove the best partner in target countries for payouts.

Ripple-Deemoney: Democratizing finance in Thailand

The CEO of DeeMoney Aswin Phlaphongphanich said that Ripple is leading from the front of technology and compliance regulations. Its technology offers a single automated that is the same for all its 300 partners globally, which makes it simple for the technical team to link into the process.

This ultimately benefits to decrease manual work and interference, which results in cost reduction, and the savings are transferred to the company’s customers.

He further added that t is an excellent opportunity to work with Ripple as this partnership is aimed to democratize finance in Thailand by giving a new version of competence and availability for cross border transactions across the nation.

Marcus Treacher, SVP of Customer Success at Ripple, notified that digital banking is booming the financial market of Thailand, and DeeMoney is the prominent entity in this platform. By becoming the first non-bank institution to use RippleNet, it reforms the limitations and rules of commitment by offering efficient global transactions at very low fees and competitive rates.

With this step, Thailand has indicated its aim to be a Smart Nation, and Ripple feels honored to be partnered with DeeMoney.

Hot News

Tezos (XTZ) Rally-Up Collapsed Against The Level Of $1.60

Tezos prices facing heavy resistance from the price level of$ 1.60 After enjoying a significant upsurge, XTZ prices came short against a resistance...

Binance Coin (BNB) Struggling To Maintain Its Presence Above The Level $12 

Binance Coin(BNB)  Struggling To Maintain Its Presence Above The Level $12  BNB again acquired negative divergence and showing strong signs that it can...

Ripple (XRP) Facing Increase In The Selling Volume Above Level Of $0.1700

The cryptocurrency is performing positively in the market with a slight gain in its prices. Ripple prices are up surging towards the crucial...

ABBC (ABBC) Price Analysis: ABBC Bulls Looks Confident For $0.10 Mark

ABBC Coin is showing significant positive movement from the past few days and crossed the crucial level of $0.090 The ABBC/BTC pair is...

EOS (EOS) Again Suffering Downfall After Acquiring Level Of $2.2

The bulls again failed to maintain their presence above the price level of $2.22 The EOS/BTC pair showing a negative sign with a...

NEO (NEO) Price Analysis: NEO Bulls Prepares To Reclaim $7.00 Mark

NEO coin price is on a significant bullish momentum in today’s market with a 3.27% overall gain. The altcoin was facing downtrend in...

Partners

Binance Coin (BNB) Struggling To Maintain Its Presence Above The Level $12 

Binance Coin(BNB)  Struggling To Maintain Its Presence Above The Level $12  BNB again acquired negative divergence and showing strong signs that it can...

Ripple (XRP) Facing Increase In The Selling Volume Above Level Of $0.1700

The cryptocurrency is performing positively in the market with a slight gain in its prices. Ripple prices are up surging towards the crucial...

ABBC (ABBC) Price Analysis: ABBC Bulls Looks Confident For $0.10 Mark

ABBC Coin is showing significant positive movement from the past few days and crossed the crucial level of $0.090 The ABBC/BTC pair is...

EOS (EOS) Again Suffering Downfall After Acquiring Level Of $2.2

The bulls again failed to maintain their presence above the price level of $2.22 The EOS/BTC pair showing a negative sign with a...

RELATED NEWS

Tezos (XTZ) Rally-Up Collapsed Against The Level Of $1.60

Tezos prices facing heavy resistance from the price level of$ 1.60 After enjoying...

Binance Coin (BNB) Struggling To Maintain Its Presence Above...

Binance Coin(BNB)  Struggling To Maintain Its Presence Above The Level $12  BNB again...

Ripple (XRP) Facing Increase In The Selling Volume Above...

The cryptocurrency is performing positively in the market with a slight gain in...