Two Remittance Firms Go Live With Ripple-Based Payments to Thailand

Remittance firms UAE Exchange and Unimoni have gone live with blockchain-based payments using Ripple technology.

Finablr, which owns the two brands, announced Sunday that "Real-time" cross-border remittances using RippleNet are now live, starting with payments for its international customers to Thailand.

"The adoption of blockchain opens up considerable potential to streamline remittances and provide a frictionless, fast and secure payments experience."

With Ripple in February 2018, aiming to reduce the costs and frictions associated with cross-border transactions.

That the firm was planning to launch Ripple-based payments to Asia by the first quarter of this year.

At least 200 banks and financial firms around the world have now tapped Ripple for blockchain-based payments.

A new remittance service, dubbed NBK Direct Remit, using Ripple's technology.

Malaysian banking group CIMB, South Korean crypto exchange Coinone.

U.S. banking giant PNC have also joined RippleNet in recent months.

While most clients have opted to use its payments infrastructure without the XRP cryptocurrency that Ripple helped develop, Euro Exim Bank became the first bank to publicly announce it is using XRP for cross-border payments in early January.