GME Remittance Korea Teams up with Ripple

The blockchain company Ripple yesterday announced its partnership with Global Money Express Co. Ltd (GME Remittance), the first Non-Bank Money Transfer Service Provider in Korea, through SBI Ripple Asia, a joint venture between SBI Holdings and Ripple. 

According to the official press release, with RippleNet, GME Remittance has connected to Siam Commercial Bank (SCB), the oldest commercial bank in Thailand, to accelerate and scale payments from South Korea into Thailand. 

Under this new partnership, GME Remittance is looking to connect with existing RippleNet customers to expand into additional remittance corridors across the region and globally, including Europe and the US. 

​As Fazzaco reported earlier, SBI Group’s subsidiary, SBI Remit, has announced its strategic partnership with Hamamatsu Iwata to ease the process of outward remittances using RippleNet’s blockchain infrastructure​.