Korean payment service Coinone Transfer joined the network RippleNet to use xCurrent, a leading solution in the Blockchain from Ripple for cross-border payments and settlements. One of the world’s largest digital payments, Coinone Transfer will become the first exchange in the country that uses the possibilities of RippleNet.
Coinone, whose subsidiary is Coinone Transfer, is considered a leader in the field of digital assets in Korea. It handles more than 97 million dollars in transactions per day. According to representatives, the company understands that the underlying blockchain technology has additional applications, especially for cross-border payments.
The exchange is also a member of DAYLI Financial Group and one of its subsidiaries DAYLI Intelligence entered into a partnership with Ripple SBI Asia in the past year to implement the technology, the Ripple in the Korean market.
The new service Cross for translations from Korea
According to the world Bank over the past decade, remittances from South Korea has grown steadily. Since June, xCurrent will ensure the launch of a new money transfer service called Cross retail customers Coinone Transfer, to meet the growing demand for faster and cheaper payments across the region.
We are proud to be the first digital exchange in Korea, which will join RippleNet and implements the solution XCurrent from Ripple, said Vangi Shin, CEO of Coinone Transfer. – Solution xCurrent from Ripple will revolutionize the lives of our clients by providing them with a service global money transfer – inexpensively and in real time.
Market experts say that the problem with global payments in Korea is being felt everywhere – from ordinary families who want to send money to relatives, but faced with slow transactions and high costs to financial institutions and growing businesses who need to send remittances and business payments at the international level in a large scale. Using Cross-all customers Coinone will be able to send vital remittances home to family and friends in South-East Asia.
Add Ripple now rate shows a positive trend, the price per coin XRP at the time of writing is $ 0,81.
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