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New RippleNet Customer Announced – ODL Coming Soon!

Ripple posted a new insights article this morning announcing a new partner to Ripple and RippleNet.

UK-based payments company and new RippleNet customer Paydek partnered with Ripple to deliver real-time cross-border payments into Africa to meet the demands of its customers working in the global gig economy.  Paydek has also partnered with Thune’s back in 2020 to provide customers with enhanced payment options and a broader international reach, specifically in emerging markets.

Siam Commercial Bank a long time RippleNet partner, partnered with Thunes earlier this year to help individuals and business send money over seas to Thailand.

Siam Commercial Bank (BKK: SCB), which is Thailand’s first and oldest banking institution, and Thunes, an established international payments firm, revealed on Tuesday (June 29, 2021) that they have teamed up to allow individual customers and businesses overseas to send money to Thailand.

The cross-border payments made to Thailand, through this partnership, should be a lot faster, cheaper and with greater transaction limits, the announcement noted.

Locals and expats currently residing in Thailand will have the option to get payouts in real-time into their banking accounts from across the globe. The current methods for handling cross-border transfers to Thailand tend to be quite slow, unreliable and also come with high transaction fees and relatively low transaction limits.

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