Cryptocurrency Exchange Coinone Partners With Ripple to Introduce Blockchain-Backed Remi…

South Korea-based cryptocurrency exchange, Coinone’s subsidiary company Coinone Transfer introduced the country’s first blockchain-powered remittance mobile app and web service, Cross. The feature will be offering faster, lower cost payments to countries such as Thailand and Philippines.

According to a press release put out by Ripple, unlike other remittance options, Cross will not rely on only banks. On the contrary, it is a safe and legitimate for those who do not possess bank accounts. The press release said, “With plans to aggressively expand across the region over the coming months, Coinone Transfer quickly rolled out the service through new financial institutions using RippleNet — connections formed with Siam Commercial Bank (SCB) in Thailand and Cebuana Lhuillier in the Philippines.”

It further added, “Coinone Transfer’s partnership with SCB also will soon offer Cross customers a direct link to PromptPay, which enables any recipient…