Ripple has announced the beginning of a new cooperative effort with SBI Remit to speed up money transactions between Japan and Thailand.

The project would enable Thais living in Japan to instantly transfer money home using RippleNet technology thanks to SBI Remit, the leading payment service in Japan. Siam Commercial Bank will represent the Thai side in this endeavor. In response to progressive <a href="https://www.cryptoknowmics.com/news/ripple-general-counsel-slams-sec-once-again-over-crypto-regulation/" target="_blank" rel="noopener">crypto regulation</a> and innovation from businesses like SBI Remit, the APAC market is expanding dramatically.

https://twitter.com/Ripple/status/1559336650756464641

As a result of the <a href="https://ripple.com/customer-case-study/sbi-remit/?utm_campaign=&amp;utm_medium=organic_social&amp;utm_source=twitter" target="_blank" rel="nofollow noopener">implementation</a>, the yen will be accessible for withdrawal in Thai baht in Thailand in one second, enabling more than 47,000 Thais living in Japan to transmit money freely using ATMs. Before this, a special agent was needed to complete the transaction, mostly done with cash.
<h2>Ripple is Welcome in Asia</h2>
While Ripple is being fully utilized by Asian nations and businesses integrating XRP into their operations, the company faces significant regulatory pressure from the Securities and Exchange Commission (SEC) in the United States. However, after realizing the rules of this SEC-Ripple "battle," the crypto solutions provider chose to commit $100,000,000 to this and place everything in the hands of attorneys. Ripple plans to focus all of its resources and attention on its primary business.

According to Ripple's most recent study, 76% of financial institutions worldwide will employ blockchain technology and cryptocurrencies by 2025, and the business certainly wants a more significant market share. From this position, the most logical place for Ripple to expand is into Asia, where technology has helped the continent become one of the fastest-growing in history.

Ripple Unveils Joint Project with SBI Remit to Streamline Money Transfers

Ripple has announced the beginning of a new cooperative effort with SBI Remit to speed up money transactions between Japan and Thailand.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Ripple Unveils Joint Project with SBI Remit to Streamline Money Transfers

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