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Thai Remittance Platform Starts Processing Ripple Payments

Ramsey Baker

Summary: A remittance platform based in Bangkok has become Thailand’s first non-banking institution to utilize Ripple’s blockchain technology in order to process international payments. According to a post from Ripple on Wednesday, DeeMoney is now using RippleNet to process transactions in a move designed to cut costs. DeeMoney, which was launched in 2018, provides same-day settlement ...

A remittance platform based in Bangkok has become Thailand’s first non-banking institution to utilize Ripple’s blockchain technology in order to process international payments.

According to a post from Ripple on Wednesday, DeeMoney is now using RippleNet to process transactions in a move designed to cut costs.

DeeMoney, which was launched in 2018, provides same-day settlement services for Thai bank accounts. The company began using RippleNet to increase the efficiency of transactions coming into the country, according to CEO Aswin Phlaphongphanich.

By Ramsey Baker

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