<center>https://coinmarketnewstoday.com/wp-content/uploads/2018/01/gold-3080552_1280.jpg</center> <br/><br><div>
            <p>South Korea-based crypto exchange Coinone has officially launched Cross – a remittance app utilizing Ripple’s xCurrent product to facilitate speedy cross-border payments.</p>
<p>Ripple <a href="https://ripple.com/insights/coinone-transfer-offers-south-koreas-first-blockchain-powered-remittance-service/" target="_blank" rel="noopener external noreferrer" data-wpel-link="external">announced Monday</a> that Coinone’s payments subsidiary, Coinone Transfer, is now formally releasing the app – which has been under development for months – 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 low cost.</p>
<p>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. Further, Cross users will be able transfer funds directly to any recipient with a bank account in Thailand through the <a href="https://bankinnovation.net/2018/05/mastercards-promptpay-hits-40m-users-in-thailand-demo-video/" target="_blank" rel="noopener external noreferrer" data-wpel-link="external">PromptPay</a> application, which is powered by Mastercard.</p>
<p>The new app will fill a growing need for cross-border remittances, Ripple noted. Thai and Filipino individuals make up two of the largest groups of immigrants in South Korea, which saw $17 billion-worth of remittances into and out of the country in 2017.</p>
<p>Coinone Transfer first announced it was looking at xCurrent in <a href="https://www.coindesk.com/crypto-exchange-coinone-taps-ripple-for-new-remittance-service" target="_blank" rel="noopener" data-wpel-link="internal">May 2018</a>. At the time, CEO Wonhee Shin explained that using xCurrent allowed the platform to offer customers cheap, real-time payment services.</p>
<p>A number of other banks and financial services firms have begun using the platform in recent months, including <a href="https://www.coindesk.com/sbi-ripple-asias-moneytap-app-has-launched-in-japan" target="_blank" rel="noopener" data-wpel-link="internal">SBI Ripple Asia</a> and <a href="https://www.coindesk.com/us-banking-giant-pnc-becomes-latest-to-adopt-ripples-xcurrent" target="_blank" rel="noopener" data-wpel-link="internal">PNC Bank</a>. Both firms plan to utilize the solution for cross-border payments as well.</p>
<p><em><a href="http://www.shutterstock.com/pic-382691593/stock-photo-south-korean-won-currency-and-finance-business-business-concept.html" data-wpel-link="external" target="_blank" rel="external noopener noreferrer">Korean won</a> image via Shutterstock</em></p>
        </div> <br /><center><hr/><em>Posted from my blog with <a href='https://wordpress.org/plugins/steempress/'>SteemPress</a> : https://coinmarketnewstoday.com/2018/12/coinone-exchange-launches-cross-border-payments-app-with-ripple-tech/ </em><hr/></center>