Expanded Border Cryptocurrency Venture: Increased Collaboration Between Ripple and Thunes for Swift Settlements and Faster Money Transfers
Ripple, a leading provider of blockchain-based financial solutions, and Thunes, a global payments infrastructure company, have expanded their partnership to enhance cross-border payments. This collaboration aims to offer real-time settlement capacity in both developed and emerging markets, focusing on removing friction that slows down cross-border money transfers.
Thunes' Direct Global Network provides the "last mile" connection for regions with limited banking infrastructure. By partnering with Thunes, Ripple brings its digital asset infrastructure while Thunes contributes its Direct Global Network for local payouts, acting as a bridge between traditional finance systems and the digital asset ecosystem.
This joint effort prioritizes transparency, reliability, and cost reduction while improving settlement speed. Ripple Payments, which processes over $70 billion in volume across 90+ payout markets, will now cover 90 payout markets, accounting for more than 90% of daily FX flows. This expansion means Ripple customers will gain access to more currencies and countries.
The partnership is focused on meeting the growing demand for cross-border liquidity. Both Ripple and Thunes emphasize their focus on delivering secure, compliant, and accessible services at scale. The partnership underscores a push for faster and more accessible services at a global level.
The combination of blockchain rails with local payout capabilities is key to unlocking new regions. Thunes' SmartX Treasury System will be enhanced by integrating Ripple's solutions, improving institutions' smoother treasury operations and businesses' easier and faster cross-border payments.
Ripple Payments supports on and off-ramps for crypto companies and financial institutions. By enabling local currency payouts, Thunes extends Ripple's reach in regions with limited banking infrastructure, making cross-border payments faster, secure, and more accessible.
The collaboration is a step towards expanding blockchain-based payments into practical and scalable use cases, paving the way for a more interconnected global financial system.
