Ripple may be benched in the United States, but it continues to expand its net across the world by adding more clients to RippleNet. The latest addition to the same is Novatti after it announced taking its partnership forward with Ripple by expanding in Southeast Asia.
The multi-channel payments technology company is entering Thailand’s market. The expansion will be carried out in partnership with the Siam Commercial Bank.
This partnership will leverage XRP to process cross-border payments and open Novatti to the field of payments. Remittances in Thailand have averaged 6,372 THB billion from 1996 until 2021. In fact, it hit an all-time high of 18,817 THB billion in July 2021 as it grew from 17,419 THB billion in June.
Source: Trading Economics
This rising rate of remittances is a market RippleNet users want to tap into. In August, Global Money Express Co. Ltd [GME Remittance], one…
