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   1294

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. 

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   239

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.