We have some great news for Ripple (XRP) enthusiasts, the cryptocurrency is partnering with Coinone Transfer. In case you didn’t know, Ripple (XRP)’s new partner is a payment business subsidiary of Coinone’s exchange platform. The reason why Coinone Transfer is partnering with Ripple (XRP) is because it wants to be a customer of the cryptocurrency’s xCurrent product.
Obviously, Ripple (XRP) is the world’s third biggest cryptocurrency with a market capitalization of $30.6 billion, but that’s not why Coinone Transfer is partnering with it. Coinone Transfer wants to utilize the xCurrent service that Ripple (XRP) offers. xCurrent gives companies the ability to perform bank-to-bank global funds transfers.
We should mention that Coinone Transfer is going to become the first South Korean based exchange platform to use xCurrent. Moreover, the new product is going to be named “Cross” and it will be a new remittance service that is targeted towards transferring funds across Southeast Asia.
Fast Transfers at Low Cost
xCurrent is the perfect choice for Coinone Transfer because Ripple (XRP)’s product is able to perform global fund transfers in an instant. Not just that, but the fee that xCurrent charges is basically inexistent because it is only 0.0004 XRP per transfer.
Largest Asset Exchanges
This partnership might help Ripple (XRP)’s token price grow because Coinone Transfer is the biggest asset exchange in South Korea. The company handles over $97 million dollars in transactions every day and its also a member of the DAYLI financial groups which means that it works with SBI Ripple Asia.
Coinone Transfer CEO Speaks Out
“We are proud to be the first digital exchange in Korea to join RippleNet and implement Ripple’s xCurrent solution. Ripple’s xCurrent solution will revolutionize the lives of our customers by providing them with a real-time, low-cost global remittance service.” Said Wonhee Shin who is the CEO of Coinone Transfer.
Henry Lares is still early into his career as tech reporter but has already had his work published in many major publications including Tech Crunch and the Huffington Post. In regards to academics, Henry earned an engineering degree from Apex Technical School. Henry has a passion for emerging technology and covers upcoming products and breakthroughs in science and tech.