- SBI Ripple Asia has just confirmed that it will be working together with SBI Remit and TPBank of Vietnam.
- This partnership will allow for “real-time and low-cost transfer of funds between SBI Remit and Tien Phong Bank.”
SBI Ripple Asia, a very important partner of both Ripple and XRP, has just confirmed that it will be working together with SBI Remit and TPBank of Vietnam. This is being done in order to provide remittance services through RippleNet.
Published by a popular cryptocurrency enthusiast online, the document, explains that the trio of partners has “started the first Japan-Vietnam money transfer service in real currency utilizing decentralized ledger technology, with a Vietnamese bank, Tien Phong Commerical Joint Stock Bank.”
This partnership will allow for “real-time and low-cost transfer of funds between SBI Remit and Tien Phong Bank.” As per Ethereum World News, this will then be given the green light by RippleNet and related solutions that are built on that network. The partners believe that this new service will be important, especially as the “population of Vietnamese in Japan has grown 4.57 times over the past five years to 330,835, and the number is expected to increase in the future.”
November 15, 2019.— XRP Research Center (@XrpCenter) November 15, 2019
SBI Ripple Asia, SBI Remit and TPBank (Vietnam) announced the start of the first Japan-Vietnam remittance service using #RippleNet.
"We will also develop remittance
services that incorporates crypto in the future” —@yoshitaka_kitaohttps://t.co/qOgpLMhwRU pic.twitter.com/qIL49qcFYH
Nguyen Hung, CEO of TPBank, expressed excitement for the deal to which he said:
“Our cooperation with SBI Ripple Asia Co., on the application of blockchain technology in cross border money transfers marks an important turning point in enhancing our customer experience and makes international money transfers via TPBank faster, more convenient and safer than ever before.”
It will be interesting to see how this partnership plays out. For more news on this and other crypto updates, keep it with CryptoDaily!