Ripple partner SentBe to power U.S.-South Korea cross-border money transfers
South Korean payments company and RippleNet user SentBe announced the launch of its international money-transfer services in the United States. According to the press release, users of the company’s services, which primarily represent the working class and migrant workforce, will now be able to send money transfers from the new country to more than 50 other countries where SentBe already operates.
Interestingly, SentBe has been a Ripple partner since 2020. As co-founder Jay Lee Young said at the time, the standardized process of integrating Ripple technologies, namely RippleNet and On-Demand Liquidity (ODL), makes connecting with partners in the region easier and provides fast, convenient and cheap money transfers.
As was reported by U.Today in December, SentBe joined forces with another RippleNet user, Currencycloud, in what appeared to be the latest move to expand into the North American and European markets.
Partnership is key
Ripple’s presence in Asia, and particularly in Southeast Asia, is quite large. If you look at the news of the achievements of Ripple and its partners over the past few months, you can easily sketch a map of the region in your head.
Between Malaysia, Thailand, Singapore, Japan and South Korea, Ripple’s partner network covers almost every major country in Asia. This explains the fact that XRP trading takes a large chunk of the total volume on many of the region’s crypto exchanges.
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