Ripple Continues to Grow its Customer Base in the ‘Hotbed of Fintech Innovation’
- “South Korea is a hotbed of fintech innovation, and we’re committed to growing our customer base and presence,” said Emi Yoshikawa, Sr. Director of Global Operations.
- Ripple’s newest additions belong to South Korea, Coinone Transfer, Sentbe, Hanpasa, and WireBarley
Coinone Transfer has partnered with Ripple for its first South Korean blockchain-powered remittance mobile app, Cross that offers low cost and fast payments to nearby markets like Sri Lanka and Thailand.
Experiencing a fifty percent month-to-month growth rate in fees since the company's launch in 2018. The payment company reportedly charges 90% fewer transaction fees than what banking institutions are charging consumers.
As per its website, there are no hidden fees with Cross but just 1% of the total transaction.
Interestingly, half of RippleNet based clients are in the Asia-Pacific (APAC) which amounts to about half of Ripple’s users in South Korea-based WireBarley, Hanpasa and Sentbe, being the latest added. This certainly deems the importance for better cross-border payment services in the country.
A money transfer service that focuses on the South and Northeast Asia corridor Ripple’s Sentbe includes China, Japan, Vietnam, Indonesia, and the Philippines. Hanpass meanwhile, makes it easy for clients to use the system to conduct transfers across the region's borders without the trouble of creating localized bank accounts through a secure and easy mobile id process.
WireBarley provides online and mobile-based cross-border remittances services in APAC and has expanded to Australia, New Zealand, and the United States. The company is considered a Fintech startup due to their outstanding payments services.
“South Korea is a hotbed of fintech innovation, and we’re committed to growing our customer base and presence,” said Emi Yoshikawa, Sr. Director of Global Operations.
“Since the Korean government started licensing payment providers for remittance in 2017, we have witnessed how Korean payment providers dramatically improved payments experience for their customers, and we are pleased to be part of their on-going efforts.”