New collaborations are being developed to facilitate the rapidly developing crypto industry. Ripple has partnered with SBI Remit, Japan's largest payment provider, to facilitate money transfers between Japan and Thailand. Ripple said in its statement on the subject in question;
"The APAC region is growing significantly in response to progressive crypto regulation and innovation from companies like SBI Remit. Find out how we partnered with Japan's largest money transfer provider to enable instant remittance services."
Ripple, in partnership with SBI Remit, will enable Thai people living in Japan to send money instantly using RippleNet technology. Siam Commercial Bank will represent the Thai side in this initiative.
According to Ripple's press release, thanks to the app, more than 47,000 Thais in Japan will be able to send yen to Thailand for free using ATMs and withdraw money from Thailand within a second.
Such transactions could only be carried out in cash, with the participation of a private agency. However, Ripple got ahead of this problem with the new partnership. Now customers can quickly transfer money between Japan and Thailand.
According to the news in U.Today, Ripple, which has come under regulatory pressure in the United States, is seen as advantageous to grow in the Asian market. Ripple's latest study says that by 2025, 76 percent of financial institutions worldwide will be using blockchain and cryptocurrencies, and the company clearly wants a bigger piece of that pie.
Latest Situation in Ripple (XRP) Price
Ripple (XRP) price was recorded as $0.373 at the time of writing, according to CoinGecko data. The last 24-hour trading volume of Ripple (XRP) was $1,012,810,311. Ripple (XRP) price is up 0.4% in the last 24 hours. There is a circulating supply of 49 Billion Ripple (XRP) coins, with a total supply of 100 Billion Ripple (XRP) coins. Binance is currently the most active market where Ripple (XRP) is traded.