Thunes and Ripple have expanded their partnership in a bid to transform cross-border payments globally. The collaboration builds on the two companies’ previous joint venture, which started in 2020, and aims to further streamline global money movement and expand payout reach in key markets.
As per the official statement, in response to the growing demand for digital financial services, Thunes has taken steps to integrate blockchain and digital asset technologies. As part of the partnership, by leveraging Thunes’s proprietary Network alongside Ripple’s blockchain-powered payments solutions, the two payments companies strive to deliver optimised and more accessible cross-border payments for financial institutions and businesses worldwide. As a result of the joint venture, Ripple’s enterprise customers gain the option of withdrawing funds more easily in new currencies and countries, thus enhancing their global payment capabilities.
Thunes’ Direct Global Network facilitates access to real-time payouts in local currencies. It also helps reach ‘last-mile’ delivery in regions with limited banking infrastructure. The partnership will reportedly expand both the reach and the efficiency of the Network, providing businesses and end users with fast, secure, and accessible financial services. What is more, Thunes is also leveraging Ripple Payments to enhance its SmartX Treasury System.
Ripple Payments offers access to fast and transparent cross-border payments and on/off ramps for banks, crypto companies, and fintechs worldwide. The service has near-global coverage, supporting over 90 payout markets that account for more than 90% of the daily FX market activity, and processes over USD 70 billion in volume.
As per a Thunes official cited in the official press release, the company supports the needs of both traditional finance and digital assets ecosystem players. The partnership with Ripple not only underscores its position to drive the future of digital assets but also makes it possible to enable digital asset companies to deliver seamless, compliant, and accessible cross-border payments at scale.
Similarly, a representative from Ripple highlighted the company’s commitment to drive the future of global payments via blockchain technology. They further added that the partnership with Thunes is anticipated to accelerate their joint mission to improve the efficiency, speed, and security of global payments by combining Thunes’ Direct Global Network with Ripple’s digital asset infrastructure.
