We found that Korea’s cryptographic asset exchange · Coinone (coin-one) began offering a foreign remittance service ” Cross ” utilizing the technology of Ripple (Ripple).
Cross, which allows you to make currency remittances from Korean won (KRW) to Philippine / Peso (PHP) and Thai Bart (THB) at low cost quickly is said to be the first block chain based foreign remittance service in the country.
Cebuana Ruilier (Philippines) and Siem Commercial Bank (Thailand), alliance partner banks, are both affiliates of Ripple ‘s banking network ” RippleNet “.
In September last year, the Korean government banned the offer of foreign exchange remittance business licenses to companies other than banks , and coin-wins and ripples successfully used this opportunity to start Cross.
There are general corporations that provide foreign exchange remittance services in Japan, but ripple products and Cross equivalent services using block chain technology have not yet appeared.
However, as a ripple related product released in Japan, there is an application called ” money tap ” provided by SBI · Ripple Asia.
With this service, you can make immediate remittance between alliance partner banks in Japan regardless of time, Saturdays, Sundays and public holidays, we also offer remittances with mobile phone numbers specified.
Article Source: Official Presentation by Ripple (English)
Author: Yuya 【Coin Desk News】 – Source Post: https://crypto-times.jp/coinone-to-launch-cross-ripple/
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