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Mobile Payments

Coinone rolls out cross-border payments app with Ripple tech

Wednesday 12 December 2018 | 02:10 PM CET

South Korea-based crypto exchange Coinone has officially launched Cross, a remittance app utilising Ripple’s xCurrent product to facilitate cross-border payments.

Ripple announced that Coinone’s payments subsidiary, Coinone Transfer, is now formally releasing the app to the public. It aims to provide unbanked or underbanked individuals the ability to transfer funds from South Korea to Thailand or the Philippines at a low cost.

Coinone will be working with Siam Commercial Bank (SCB) in Thailand and a financial institution called Cebuana Lhuillier in the Philippines to get funds to customers.

Moreover, Cross users will be able to transfer funds directly to any recipient with a bank account in Thailand through the PromptPay application, which is powered by Mastercard.

More: Link
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