The company behind the XRP token Ripple Inc., has announced a partnership with DeeMoney, a Thai fintech company focused on digital cross-border money transfers.
With the help of Ripple’s financial network RippleNet, DeeMoney will reportedly improve its international money transfers at the lowest fees and best rates. Hence, DeeMoney has become the first non-bank institution in Thailand to use RippleNet's technology.
DeeMoney CEO Aswin Phlaphongphanich says Ripple is currently "at the forefront of technology and compliance regulations."
"Its [Ripple's] technology provides a single, automated system that speaks the same way to all its 300 partners worldwide, making it simple for our tech teams to integrate into our process. This helps to reduce manual work and intervention, which in turn reduces costs, of which the savings are passed to our customers," added Phlaphongphanich.
Earlier Ripple CTO David Schwartz said that the company is working on a feature that will allow its users to create tokens on XRP's blockchain.
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