The South Korean stock exchange, Coinone intends to use the corporate blockchain network Ripple for cross-border transfers.
Coinone Transfer-based payments division of the exchange, has joined the network RippleNet Monday, becoming the first South Korean trading platform, included in its composition. The company will use the solution xCurrent, one of the three main products of the Ripple, stated in a press release.
Citing world Bank data, according to which the volume of international payments from South Korea over the past decade has increased, the company writes that it plans to launch a new payment service called Cross, which will lie xCurrent. The product will target workers in South Korea who want to send money home to South-East Asia.
CEO Coinone Transfer Wongi sheen said that the decision of xCurrent will allow us to offer customers of the company “global payments in real time with low commissions”.
A week ago to RippleNet joined BankDhofar of Oman, and in February, two banks and three payment service from Brazil, India, Singapore and Canada have expressed willingness to use a decision Ripple to make payments in real time.