Ripple and Korean Coinone Became Partners

Last Updated on May 9, 2018 at 3:48 PM

Regardless of the poor image, Ripple teams up with a South Korea-based cryptocurrency exchange.

Ripple boasts its three blockchain-based features xVia, xRapid, and xCurrent as well as its cryptocurrency trading option. As for the new partnership, Ripple will have the chance to expand its services to the payment side.

Today, 9th May 2018, XRP is traded at $ 0.8079, having an increase of 0.40%. It’s predicted that the price will grow with fast steps up to $ 1 soon.

According to the Press Release, Ripple and Coinone have become partners. The latter will adopt Ripple’s xCurrent to facilitate international payments.

“Coinone Transfer — a payments business and a subsidiary of Coinone — has joined RippleNet to use xCurrent, Ripple’s leading blockchain solution for cross-border payments and settlement. Coinone is a leader in the digital asset industry in Korea. As one of the largest exchanges in the country, it handles over $97 million in transactions per day. The company also understands that underlying blockchain technology has further applications, particularly for cross-border payments,” states Ripple in the official Press Release.

.@coinone_info is launching “Cross” a new remittance service powered by #xCurrent that will service critical payments corridors from Korea through RippleNet. https://t.co/XQrT9RWIr3

— Ripple (@Ripple) May 9, 2018

With fast steps, Ripple joins more and more companies and projects, which brings significant benefits for its development and facilitate the promotion of its services. In addition to expanding Ripple’s partner portfolio, Coinone will also enjoy from its latest partnership, simply because it will benefit from the cross-border payments option.

XCurrent is a fast way to make payments between several stakeholders, a benefit that Coinone will enjoy for sure.

We shouldn’t avoid the fact that South Korea is in a difficult period regarding the regulation of the crypto sector. For this reason, in order to avoid possible legislative difficulties, the two partners agreed “to set up adequate defenses”. The partnership with Coinone is another important step for Ripple. We will remain on the stage to find out more details.

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