Coinone Transfer, a payment business subsidiary of Coinone’s exchange podium, has joined RippleNet spil a customer of Ripple’s xCurrent product.
It wasgoed exposed today that Coinone Transfer, a payments company, and a subsidiary of popular South Korean cryptocurrency exchange Coinone, has joined RippleNet to use xCurrent, Ripple’s blockchain solution for cross-border payments and settlement.
Spil one of Korea’s largest digital asset exchange, Coinone will be the very first exchange ter the country to leverage the capability of RippleNet. Around this time last year, Coinone became one of the very first Korean exchanges to list Ripple’s XRP native asset.
Coinone treats overheen $97 million ter transactions vanaf day. The company also understands that underlying blockchain technology has further applications, particularly for cross-border payments.
The exchange is also a member of the DAYLI Financial Group, and one of its subsidiaries, DAYLI Intelligence, signed a partnership with SBI Ripple Asia last year to bring Ripple’s blockchain solutions to the Korean market.
Fresh service “Cross” to address key regional remittance corridors out of Korea
Remittance outflows from South Korea have bot steadily enlargening overheen the last decade according to gegevens from the World Handelsbank. Kicking off ter June, xCurrent will power the launch of a fresh remittance service called “Cross” for Coinone Transfer’s retail customers to address the country’s growing request for swifter and cheaper payments across the region.
Coinone customers will be able to send esencial remittances huis to family and friends ter countries across Southeast Asia using Cross — all by powered by Ripple blockchain technology. xCurrent permits for payments of any size to budge quickly, transparently and at low cost across borders making it ideal for the volume and smaller size of remittance payments.
“We are proud to be the very first digital exchange te Korea to join RippleNet and implement Ripple’s xCurrent solution. Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost universal remittance service.”
Wonhee Shin, CEO of Coinone Transfer
With xCurrent, financial institutions like Coinone Transfer will be able to eliminate friction ter payment flows for their end customers.
“Non-traditional payments companies like Coinone Transfer, and their parent company, Coinone, are revolutionizing the way money moves for their customers. Wij look forward to working with Coinone Transfer to implement xCurrent spil the technology underpinning their fresh, state-of-the-art remittance service.”
Emi Yoshikawa, director of snaak venture partnerships at Ripple