Ripple partnered with Thailand's DeeMoney to reach 1 million users

Ripple first cooperates with Thailand's DeeMoney, targeting 1 million users

In a March 20 announcement, blockchain payment startup Ripple announced a new partnership with DeeMoney - a Thai financial technology startup. This partnership can help DeeMoney make instant transactions for less.

DeeMoney also marked as Ripple's first non-financial organization in Thailand to use RippleNet technology. This company mainly handles remittances sent to Thailand from Korea, Singapore and the Middle East.

A potential market for Ripple

According to Ripple, this is a potential market, when there are currently an estimated 1 million Thais working globally and in need of sending money home.

The company also plans to take advantage of RippleNet to transfer money from Thailand to the outside. But this will be done in phase 2 of cooperation. Aswin Phlaphongphanich, CEO of DeeMoney, said he is aiming for a fair and transparent financial system in Thailand. This cooperation will bring a new level of efficiency and accessibility in money transfers between Thailand and other countries.

For its part, Marcus Treacher, SVP of Ripple's customer support, said that the digital banking revolution in Thailand is happening at a fast pace. DeeMoney is an important unit in this process. As the first non-financial institution in Thailand to use RippleNet, it will provide an efficient and low-cost, competitive trading method. Earlier, Ripple also entered the overseas remittance market in Korea.

Ripple has difficulty due to the covid-19 pandemic

Ripple CEO Brad Garlinghouse also acknowledges the challenges facing the world of the Covid-19 pandemic. He said that the entire Ripple team is working from home, but ensures the company will still serve customers. More than ever, people can keep sending money to their loved ones in times of need.

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Nguyen Diep

My name is Nguyen Manh Cuong. I was born in a poor village in Ba Vi district, HA NOI province - windy and sunny land. Currently

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