Ripple is showing no signs of slowing down. We get the news that Ripple has signed another exchange up. The newest exchange to add to the list of growing RippleNet partners come out of Thailand. Bitkub is Thailand’s digital asset and cryptocurrency exchange platform that enable exchange services to individuals who intend to buy, sell, and store cryptocurrency. Currently, the company has 22 cryptocurrency trading pairs against Thai Baht. Bitkub has a valuation of 525 million baht and investment from Total Access Communication Plc, DTAC Accelerate and SEAx.
The CEO of Bitkub, Topp Jirayut, says the exchange is now Ripple’s official partner in the country and will help power cross-border XRP transactions. The CEO also added:
“Ripple is one of the key players for banks to realize significant benefits. Ripple is to establish an institutional, cross-border payment with XRP, an open source for access and participation in the public sector of XRP cash flow – a stand-alone digital currency used to facilitate transactions on the Ripple network.
Bitkub, Ripple’s official exchange partner in Thailand, is joining the RippleNet program. We are on a mission of humanizing blockchain experience, where people will inherently utilize cryptocurrency as a transaction protocol on the back end in order to receive, as well as transfer money, at a fraction of the cost across the globe. Within early next year, global money remittance at a much cheaper rate would be feasible.”
Bitkub currently does $3,450,667 USD or the equivalent to 399.26008910 BTC in a 24hour window.