RippleNet Expands Operations In S. Korea-Thailand

RippleNet, Ripple’s global financial network, announced on Wednesday (Aug. 11) a third addition to its list of financial institutions (FIs) and money transfer companies in South Korea — Global Money Express (GME Remittance) — after partnerships with CROSS ENF and Sentbe.

The partnership with RippleNet connects GME Remittance, one of the largest non-bank remittance service providers in South Korea, to Siam Commercial Bank (SCB), one of Thailand’s largest lenders by assets, and is welcome news for the 180,000-plus Thai nationals living in South Korea.

In the announcement, Emi Yoshikawa, vice president of corporate strategy and operations at Ripple, said that “the remittance corridors requiring high-performance payments to this region are growing exponentially — with people needing to send money round the clock, even on holidays or weekends.”

With the number of…