Singapore’s leading payment firm, Thunes, announced a partnership with Ripple on Tuesday to initiate cross-border payments. The partnership aims to improve the customer payout experience, streamlining the payout process from the sender to the receiver. The collaboration comes after the demand for digital financial services across the world is rapidly evolving. The development could add a feather to XRP’s prospects, which bulls are projecting it to rise above the $4 mark.
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Thunes will leverage Ripple’s XRP payment methodology powered by blockchain technology. Ripple will provide services to the Singapore-based firm by processing real-time payouts in local currencies through its Direct Global Network. The fintech firm wants to fulfil “last-mile delivery” in regions in Singapore that have limited banking support. This enables Thunes to reach every remote corner of the country and dominate the payment service systems.
Chloe Mayenobe, the COO of Thunes said that Ripple’s digital assets ecosystem (XRP) will reshape global finances. “Members across both the traditional finance space and the digital assets ecosystem connect with Thunes. We are in a prime position to bridge these two worlds and drive the future of digital assets, and our alliance with Ripple underscores this. By supporting real-time settlement and deep local integrations, we are enabling digital asset companies to deliver seamless, compliant, and accessible cross-border payments at scale.”
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Thunes Evolves With Ripple’s Technology, XRP Prime Beneficiary
Thunes collaboration with Ripple comes after the firm completed processing more than $70 billion in volume. It delivers 90+ payout markets, which include leading global banks. “We are committed to reshaping the future of global payments through blockchain technology,” said Fiona Murray, Managing Director at Ripple. XRP surged more than 1% after the collaboration, which is now aiming to climb above $3. Its price is now hovering around $2.83 range with a 24-hour trading volume of $7.3 billion.