Ripple, a provider of enterprise blockchain solutions for payments, announced on Thursday it has formed a new partnership with Thailand-based digital cross-border money transfer fintech DeeMoney. Ripple reported that through the collaboration, DeeMoney’s platform is now processing live transactions.
Ripple further revealed that DeeMoney is now using RippleNet to process inbound payments into Thailand; namely between South Korea, Indonesia, Singapore, Israel as well as the Middle East and Gulf regions. Speaking about the collaboration, Aswin Phlaphongphanich, CEO of DeeMoney, stated:
“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 costs, of which the savings are passed to our customers.”
Founded in 2018, DeeMoney stated it has sought to become Thailand’s leading fintech solution provider in remittance and cross-border payments. The company received Non Bank International Money Remittance Service License, Money-Exchange License and E-Payment License from the Bank of Thailand.
“Our mission has always been to enable customers with the most flexible, lowest cost, easiest to use and most convenient remittance and cross-border payment service, and we are steadfast in achieving that and more.”