While litigation with the US Securities and Exchange Commission (SEC) is ongoing, Ripple has signed some very serious agreements, especially in the Far East, and recently announced the opening of a Liquidity on Demand (ODL) corridor between Japan and the Philippines, partnering with GME, one of the payment service providers.
Ripple, which has signed very important agreements in many countries struggling with cross-border payments from Singapore to Indonesia, Egypt to Dubai, is now partnering with GME to expedite payment transactions between South Korea and Thailand.
A partnership of GME Remittance, one of the leading companies in South Korea, has been established with SBI Ripple Asia, a subsidiary of Ripple.
“With Ripple, we can enter new countries in 1-2 weeks.”
Subash Chandra Pudel, Chief Operating Officer of GME, in his speech about the agreement, said that through this partnership, they could open many payment corridors around the world:
“The reason we chose Ripple as our partner is that with RippleNET we get the opportunity to sign new partners and expand into new countries within 1-2 weeks. This has significantly reduced the processing time and allowed us to gain a significant advantage over our competitors. “
The oldest bank in Thailand is also included in the system
Following the agreement, Siam Commercial Bank, Thailand’s oldest bank and longtime partner of Ripple, established a technical connection with GME and opened a system for payments from South Korea.
Ripple also has connections with companies like Coinone Transfer, Sentbe, and Hanpass in South Korea.