Ripple announced that one of the leading non-bank remittance service providers in South Korea – Global Money Express Co. LTD (GME Remittance) – had joined its network. As a result, the financial institution can now connect to Siam Commercial Bank (SCB) and initiate payments between South Korea and Thailand.
GME Looking to Expand
According to an announcement, GME Remittance has joined the blockchain-based digital payment network – Ripple. The collaboration enabled the South Korean service provider to connect with Thailand’s leading bank – Siam Commercial Bank (SBI).
The initiative would accelerate and scale payments between the two countries as more than 180,000 Thai nationals currently reside in South Korea. Ripple reminded that GME Remittance is not the first Korean company to join its network as CROSS ENF and Sentbe have already built financial bridges with Thailand.
Subash Chandra Poudel stated that GME’s goal is to reach Siam Commercial Bank and expand its operations in
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