Coinone Transfer, a subsidiary of crypto exchange Coinone, has become South Korea’s first provider of blockchain-based remittance services. Ripple officially announced this with the recent launch of a new payment solution called Cross.

Cross will be available as a web service and mobile app and will allow users to perform fast and cheap money transfers between South Korea and both Thailand and the Philippines, initially. Coinone Transfer plans to expand its geographical coverage in Southeast Asia actively over the coming months.

To serve and remit

Coinone has always been taken an interest in remittances. In May 2018, it joined RippleNet, Ripple’s blockchain network, to be able to use xCurrent. Ripple’s well-known blockchain solution for cross-border payments allowed Coinone Transfer to launch its new service in partnership with two regional large financial institutions using RippleNet…

This article appeared first on Cryptovest

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