Global Money Express Co. Ltd (GME Remittance), one of the largest non-bank money transfer providers in South Korea, has just joined RippleNet.
According to the statement shared by the company, it has connected to Siam Commercial Bank (SCB), Thailand’s leading bank, through Ripple’s financial network.
The aim of the partnership, which has been established through SBI Ripple Asia, is to speed up and scale payments between countries.
We should take into account that South Korea has about 184,000 Thai citizens.
Fintech company Ripple has highlighted that GME Remittance is not the first Korea-based company to join RippleNet. CROSS ENF and Sentbe are already using the company’s service to make transfers between South Korea and Thailand.
GME Remittance expects to connect with GME Remittance’s existing customers to expand its remittance destinations in the region and all over the world.