Novatty Group LimitedIs a leading Australian fintech that enables corporate payments and payments, and a partnership with Ripple, a leading provider of enterprise blockchain and cryptographic solutions for cross-border payments, has expanded to Thailand to generate revenue. Announced that it is being raised.
RippleNet, Ripple’s global financial network technology, not only provides partners with the ability to process cross-border payments instantly, but also new high growth such as blockchain, digital assets, XRP and the top 10 global cryptocurrencies. Provides access to features currently worth over US $ 40 billion. 1
Novatti Ripple’s partnership began in December 2020 and initially focused on targeting cross-border transactions between Australia and Southeast Asia. In April of this year, Novatti used RippleNet’s On-Demand Liquidity (ODL) service to transfer money between Australia and the Philippines and leveraged XRP to make instant cross-border payments.
With this expansion into Thailand, Novatti has partnered with Siam Commercial Bank (SCB), the first Thai bank, through RippleNet. 2 This is expected to process thousands of transactions per month by Novatti via RippleNet. The revenue from this partnership depends on the use of the service.
from now on, Novatti Ripple will continue to partner to launch this innovative service in new markets in Southeast Asia.
Peter Cook, Managing Director of Novatti, said: Within the first year of the partnership, we have successfully launched new services in two Southeast Asian countries to generate revenue, along with major local partners such as Siam Commercial Bank. “
“The expansion of the Novatti-Ripple partnership into Thailand again highlights how Novatti can leverage its existing ecosystem to enter new markets. This will be replicated in the future, including other new markets in Southeast Asia. It’s the model we’re trying to do, “Cook added.
Novatti expands Ripple partnership and expands to Thailand
Source link Novatti expands Ripple partnership and expands to Thailand