Ripple to be used as Payments by InstaReM and BeeTech

Singapore-based company InstaReM and FX provider offering services in Latin America, BeeTech recently declared about their partnership using Ripple products
01 June 2018   1920

The partnership is mainly aimed on opening a new payments corridor between South East Asia and Latin America. As claimed in the official details, the banks are going to use Ripple’s xCurrent and xVia products to provide real-time payment system across borders of the target areas.

xCurrent product also supplies end-to-end tracking resolves for transactions that will provide banks with the ability to message each other in real time. The product is also presented by a rulebook which is developed by Ripple as well as the RippleNet Advisory Board to ensure legal clarity and consistency.

Because of the standard interface for payments across different networks of the xVia product, the users will be able to send payments globally with transparency. It also has the facility of attacking rich information and payment status.

The connectivity that Ripple’s innovative blockchain network provides will allow us to offer our customers - including corporates and small businesses - quick, hassle-free payments into BeeTech’s markets.
Prajit Nanu,
CEO, InstaReM

InstaReM clients will have the possibility to send real-time payments into South America. The new solution will also let BeeTech customers access instant payment services using xVia, in those 60 markets that are managed by InstaReM. 

DeeMoney to Join RippleNet

RippleNet consists over 300 companies around the world, that can perform almost instant exchanges thanks to this network
19 March 2020   153

Thai fintech company DeeMoney became the first non-state company in the country to use RippleNet technology for fast international payments.

More than 300 financial institutions around the world are already members of the RippleNet payment network. The exchange of payments between these organizations occurs almost instantly.

Ripple is currently at the forefront of technology and compliance regulations[…]This brings in finance in Thailand by bringing a new level of efficiency and accessibility for cross-border transactions to and from the nation.

 

Aswin Phlaphongphanich

CEO, DeeMoney

According to Marcus Treacher, senior vice president of customer service at Ripple, there is a real revolution in Thailand's banking industry.

By being the first non-bank institution in Thailand to use RippleNet, it redraws the boundaries and rules of engagement by providing efficient international transfers at low fees and competitive rates. 

 

Marcus Treacher

SVP of Customer Success, Ripple

Currently, DeeMoney is already accepting payments in Thailand using RippleNet, and when the second phase of cooperation is launched, the company will be able to send funds abroad using the blockchain system.