Payments business and a subsidiary of Coinone, Coinone Transfer recently announced about joining RippleNet ter order to use xCurrent which is the leading blockchain solution of Ripple for cross-border payments and settlement.
Coinone is one of the largest digital asset exchangers te Korea which performs more than $97 million worth transactions each day. The toneelpodium has bot actively investing te further applications of blockchain technology te particular ter cross-border payments. The latest announcement made Coinone the very first exchange podium ter Korea which will make use of the powerful instrument of RippleNet.
According to the official gegevens passed by the World Bankgebouw, overheen the last years Remittance outflows from South Korea have bot enhancing permanently. And hence ter the framework of the fresh partnership, xCurrent will power the launch of a fresh remittance service ter June this year which will be called “Cross”. The service will permit Coinone Transfer’s retail customers to address the country’s growing request which will result having quicker and cheaper payments across the region.
It wasgoed confirmed that Coinone customers will be able to send fundamental remittances to their family and friends te Southeast Asia. The transactions will be made by using Cross which all will be powered by Ripple blockchain technology. The main advantages of xCurrent include semi-transparent, secure and low cost transactions which are ideal for petite volume remittance payments.
CEO of Coinone Transfer, Wonhee Shin wasgoed excited to announce that their toneel is the very first exchange te the country to join RippleNet. “Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost total remittance service”, said Shin.
Director of snaak venture partnerships at Ripple, Emi Yoshikawa also commented on the latest partnership voicing good enthusiasm te soon be working with Coinone Transfer on implementing xCurrent “as the technology underpinning their fresh, state-of-the-art remittance service”.