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Ripple Blockchain News: South Korean Market Transforms Global Financial System

The ripple blockchain news from South Korea has caught the attention of the entire blockchain industry. The renowned blockchain network is buzzing the trend of seamless money transfer again. Indeed, it is a remarkable goal achieved in the field of remittance which has made the payment and fund transfer easy, secure and cheap. However, there is more to it which is about to make a major shift in the global financial system.

Coinone Transfer, the popular South Korean crypto exchange subsidiary and payment business operator has officially announced the very first blockchain-powered remittance mobile payments app dubbed as Cross. This app is run on the platform of Ripple’s cross-border payment technology xCurrent which make possible the cross-border transfer of money. As of now the users can send and receive the money from Thailand and the Philippines.

The Ripple blockchain news is keenly followed by all the blockchain enthusiasts across the globe to monitor the performance of this breakthrough application of payment. The company pursued Ripple’s xCurrent technology because of its high-end performance in the field of remittance. It offers an increased speed of transfer as compared to the conventional legacy systems with cheaper rates. Interestingly this app does not use Ripple’s digital currency XRP as it does not even require that because the software facilitates the banks to settle payments in a real-time along with end-to-end monitoring, as mentioned by Invest In Blockchain.

South Korea’s Love For Blockchain Technology

According to Cryptoline News, it is stated that South Korea is one of the countries that are making an advanced lead in the race of blockchain and crypto adoption. A report published by Cindicator, a platform that merges machine learning and market analysis for financial analytics, revealed that right from financial regulations to the market demand there is a very encouraging response. Probably, that is why South Korea is making a major lead in the acceptance of this domain. For now, the ripple blockchain news is the major attraction for everyone.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Neha graduated in Electronic Media and has worked with Times group for 3 years with an overall experience of 6 years. She is passionate about learning languages and is a certified French Language Expert and IELTS Trainer. Neha writes breaking cryptocurrency news stories for OWLT Market.

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