{"id":47567,"date":"2021-08-12T10:50:51","date_gmt":"2021-08-12T07:50:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=47567"},"modified":"2025-09-01T21:59:41","modified_gmt":"2025-09-01T18:59:41","slug":"ripple-and-gme-remittance-to-accelerate-remittance-transfers-between-south-korea-and-thailand","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-and-gme-remittance-to-accelerate-remittance-transfers-between-south-korea-and-thailand\/","title":{"rendered":"Ripple and GME Remittance to accelerate remittance transfers between South Korea and Thailand"},"content":{"rendered":"<p>One of the largest non-bank money-transfer providers in South Korea, Global Money Express Co. Ltd (GME Remittance), has joined RippleNet.<\/p>\n<p>According to <a href=\"https:\/\/ripple.com\/insights\/gme-remittance-joins-ripplenet-to-accelerate-and-scale-payments-from-south-korea-into-thailand\/\">a statement<\/a>, via Ripple&#8217;s network the Korean company connected to Siam Commercial Bank, Thailand&#8217;s leading bank.<\/p>\n<p>The partnership established through SBI Ripple Asia, a joint venture of Ripple and SBI Holdings, is designed to accelerate and scale cross-border payments.<\/p>\n<p>There are 184,000 Thai citizens living in South Korea, a figure surpassed only by China and Vietnam.<\/p>\n<p>Ripple noted that GME Remittance is not the first Korean company to join its network. CROSS ENF and Sentbe already facilitate RippleNet money transfers between South Korea and Thailand.<\/p>\n<p>Through the partnership, GME Remittance expects to connect with Siam Commercial Bank&#8217;s existing clients to reach additional remittance corridors in the region and globally, including Europe and the United States.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>We began collaborating with Ripple because with RippleNet we can enter new countries with new partners within 1-2 weeks. This has significantly shortened time to market and given us a competitive edge,&#8221; said Subash Chandra Pudel, Chief Operating Officer of GME Remittance.<\/p>\n<\/blockquote>\n<p>Against the backdrop of the partnership news, Ripple&#8217;s XRP token rose by more than 25%. From around $0.85, the asset briefly traded at $1.08 (Bitfinex).<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"316\" src=\"https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22-1024x316.png\" alt=\"Ripple and GME Remittance accelerate remittance transfers between South Korea and Thailand\" class=\"wp-image-145581\" srcset=\"https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22-1024x316.png 1024w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22-300x93.png 300w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22-768x237.png 768w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22-1536x474.png 1536w, https:\/\/forklog.com\/wp-content\/uploads\/XRPUSD_2021-08-12_10-13-22.png 1566w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Data: <a href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>Earlier in July, XRP <a href=\"https:\/\/forklog.com\/en\/news\/xrp-rises-14-as-ripple-expands-in-the-asia-pacific-region\">rose by 14%<\/a> after Ripple announced the launch of a Japan\u2013Philippines payment corridor based on On-Demand Liquidity (ODL) in partnership with SBI Remit, SBI VC Trade, and the Philippine service Coins.ph.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the largest non-bank money-transfer providers in South Korea, Global Money Express Co. Ltd (GME Remittance), has joined RippleNet.<\/p>\n","protected":false},"author":1,"featured_media":47568,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[112,974],"class_list":["post-47567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ripple","tag-south-korea"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=47567"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47567\/revisions"}],"predecessor-version":[{"id":47569,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/47567\/revisions\/47569"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/47568"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=47567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=47567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=47567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}