South Korea’s Third-Largest Cryptocurrency Exchange, Coinone, Set to Join the Ripple Family

South Korea's third-largest cryptocurrency exchange, Coinone, which is known as one of the “Big four” exchanges in Asia, will be joining the Ripple family.

Per the announcement on the 17th of June 2019, Coinone provides cross banking services, using the xCurrent payments solution of Ripple.

SBI Holdings and Ripple Joint Venture

This integration of the Coinone exchange into the Ripple family is made possible through the partnership between Japan's SBI Holdings and Ripple, called ‘SBI-Ripple Asia'. With the increasing number of cross border transactions coming from the southern region of the Korean peninsula, many firms now seek capitalization.

This Coinone – Ripple integration is the first of its kind among South Korean crypto exchanges.

Shin Won-hee, the CEO of Coinone in a report said

“We hope that the cooperation between Coinone and SBI Ripple Asia will provide allow us to introduce a range of financial services that make use of blockchain technology.”

On Twitter, @CoinoneOfficial, the official Twitter account for the exchange also tweeted

“It’s about @Ripple, also it’s about @Cross.

We’re using #xCurrent for our service in S.Korea.

Check out #Cross 👉

SBI – Ripple Asia Growth

The SBI – Ripple partnership blossomed even more after Yoshitaka Kitao, the CEO of SBI Holdings was appointed as of Ripple’s board members.

The partnership brought about SBI – Ripple Asia, a joint venture which aims to utilize the network capabilities of RippleNet to provide global cross border payment options.

Reports state that with the agreement between Coinone and SBI – Ripple Asia, their cross border blockchain payment, Coinone Transfer would “organize overseas remittance events for 3,000 new subscribers to the blockchain overseas remittance service.”

Coinone's Cross

This integration of the Coinone exchange into the Ripple family was first initiated in 2018 when Coinone integrated Ripple’s xCurrent into “Cross”, their remittance service.

According to recent statistics, eight countries in Asia can now send remittance through the ‘Cross' platform, with the transaction fees unchanged from one percent.

Ripple (XRP) Live Price

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP


24 Hour Change


Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide