Ripple has announced the news about its strategic collaboration with Thailand-based renowned fintech firm, DeeMoney. The integration between the two leading entities has been undertaken to facilitate live transactions on the DeeMoney platform. DeeMoney takes pride in being the first non-banking institution in Thailand to partner with RippleNet.
The news was broadcasted in the worldwide crypto community of Ripple network through a tweet on the platform’s official Twitter handle. The crucial tweet read:
Through our partnership with DeeMoney, over 1 million Thais working globally can now transfer money back home at the lowest fees and best rates. https://t.co/b68mJ29vW2
— Ripple (@Ripple) March 19, 2020
According to the Ripple news today, by teaming up with RippleNet, DeeMoney will enrich its global customer base, constituting more than 1 million Thais, with streamlined and more effective international money transfers at the lowest fees and best rates. DeeMoney uses the excellent services of the RippleNet platform to execute inbound payments in the Thailand region. These include transfers between popular remittance corridors such as South Korea, Singapore, Israel, Indonesia, Middle East, and Gulf regions. The platform is a one-shot solution for transferring money for the one million Thai people residing in different parts of the world to their families back home.
Aswin Phlaphongphanich, CEO of DeeMoney stated that,
As DeeMoney provides same-day processing of funds of Thai customers, the platform is widely used as a pay-out partner for international payment settlement firms. The second phase of the crucial partnership, DeeMoney will use RippleNet to provide outbound transfers from Thailand.
Marcus Treacher, SVP of Customer Success at Ripple firm, quoted that,
