Express

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

Last Update:

Tags: ,,,,
Link: Thai Remittance Platform Starts Processing Ripple Payments   [Copy]
Next:

Related Articles

  • BTC Weekly Outlook: A Bullish Week, but Signs Point to a Shift to Defensive Play 7 hours ago
  • Figma's IPO Triumph and Crypto Bet: How a Design Disruptor Stunned Wall Street After a ... 11 days ago
  • When Stablecoins Tear Down Banks’ Interest Margin Moats — A Third Look at the U.S. “Ge... 12 days ago
  • Twitter Space Highlight: Is Altcoin Season Coming? Unpacking BTC, Institutions & RWA 14 days ago
  • BTC Weekly: Momentum Top Divergence Signals Potential Shift Lower 14 days ago

    • You need to login to comment.