CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
  • Market Updates
  • BTC Analysis
  • ETH Analysis
  • XRP Analysis
  • Interviews
CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
    • Spanish
    • Turkish
    • German
    • Bulgarian
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • CryptoPotato Spanish
  • CryptoPotato Turkey
  • CryptoPotato Germany
  • CryptoPotato Bulgaria
Home » Crypto News » Ripple Expands Presence In Thailand, Partners With Local Fintech Company To Use RippleNet

Ripple Expands Presence In Thailand, Partners With Local Fintech Company To Use RippleNet

Author: Jordan Lyanchev

Last Updated Mar 19, 2020 @ 09:52
Getting your audio player ready...

Ripple continues its expansion by partnering with a Thailand-based fintech company called DeeMoney. The latter will utilize Ripple’s global financial payments network, RippleNet, for more efficient, faster, and cheaper international money transfers.

Ripple Partners With DeeMoney

Ripple announced its newest partnership yesterday. DeeMoney is based in Thailand and specializes in digital cross-border money transfers. The fintech company will use RippleNet to process inbound payments into Thailand.

More specifically, the payments are initiated from Israel, Indonesia, Singapore, South Korea, the Middle East, and the Gulf region. According to the statement, more than a million Thais are working in those areas and are transferring lots of money back home.

By utilizing RippleNet, DeeMoney will provide payment settlements on the same day to all Thai bank accounts. The transfers for those sending the money will be more efficient and will come at a lower cost.

Later on, the partnership between the two companies will result in outbound transfers from Thailand to other countries, as well.

Aswin Phlaphongphanich, CEO of DeeMoney, commented on the partnership, saying that Ripple’s multinational payments service simplifies the whole process:

“Ripple is currently at the forefront of technology and compliance regulations. Its technology provides a single, automated system that speaks the same way to all its 300 partners worldwide, making it simple for our tech teams to integrate into our process. This helps to reduce manual work and intervention, which in turn reduces the costs, of which the savings are passed to our customers.”

Ripple’s Growing Role In Payments Services

Aside from DeeMoney, the company behind the third-largest cryptocurrency by market cap (XRP), recently made another partnership in Thailand. Ripple went into business with the country’s oldest bank, Siam Commercial Bank. The large banking institution will create an application running on Ripple, called SCB Easy. The app will be primarily used for low-cost cross-border payments.

The company is also developing relationships outside of Thailand. Back in February, Ripple partnered up with a U.K.-based digital money transfer service company, Azimo. The latter is now leveraging RippleNet’s ODL to send faster and cheaper cross-border payments to the Philippines.

Egypt’s National bank also declared that it would use the blockchain-based payments network RippleNet to implement remittance payments.

SPECIAL OFFER (Sponsored)
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).

LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!

Tags: Ripple
Enjoy reading? Share with your friends
Facebook Twitter LinkedIn Telegram

About The Author

Jordan Lyanchev
More posts by this author

Jordan got into crypto in 2016 by trading and investing. He began writing about blockchain technology in 2017 and now serves as CryptoPotato's Assistant Editor-in-Chief. He has managed numerous crypto-related projects and is passionate about all things blockchain. Contact Jordan: LinkedIn

Join Our Community

FacebookX YouTubeTelegram


Editorials
How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

How to Trade on Hyperliquid: The Ultimate Guide (Step-by-Step Walkthrough)

11 Best Meme Coins to Watch in June 2025

11 Best Meme Coins to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

7 Best Meme Coin Presales to Watch in June 2025

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Toobit Review 2025: Is Toobit a Safe Crypto Exchange?

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

Hyperliquid Bridge: How to Bridge USDC to Hyperliquid

11 Best Crypto Presales to Consider in June 2025

11 Best Crypto Presales to Consider in June 2025

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Need for Speed – Only Ultra-Fast Blockchains Will Win the Adoption Race (Opinion)

Join Our Newsletter
Become a CryptoPotato VIP
One Weekly Email Can Change Your Crypto Life.
Sign-up FREE to receive our extended weekly market update and coin analysis report
We NEVER send spam. You can unsubscribe at any time.
Invalid email address
Thanks for subscribing!
Footer Logo
About
Advertise on CryptoPotato
About Us | Contact Us | Careers
Editorial Policy
Terms of service | Privacy Policy | GDPR
More Sections
IEO List | Evaluations
Airdrops
Scholarship
Disclaimer
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
© Copyright CryptoPotato 2016 - 2025
Scroll to top
One Daily Email Can Change Your Crypto Life.

Sign-up FREE to receive our extended daily market update and coin analysis report

We never send SPAM. You can unsubscribe at any moment
Invalid email address
Thanks for subscribing!