The Ripple network is constantly expanding. In mid-June, the long-awaited and noisy partnership with MoneyGram, one of the world’s largest money transfer operators, was made official. Ripple has thus become a key partner of MoneyGram for cross-border currency transfers. By leveraging this partnership, Ripple has also agreed to provide $50 million in capital to MoneyGram for a period of two years. This relationship between the two companies is already proving fruitful: Yesterday Moneygram announced a partnership with Sentbe, thus encouraging the expansion of Ripple (XRP) and the use of xRapid in South Korea.
BREAKING NEWS 19/07/19@Moneygram just partnered with https://t.co/HB9vAtayMN just updated their site to show they partnered with @Ripple (which was not known before) . SENTBE are the money transfer operators for @SamsungPay_KR !!https://t.co/VhnZF5Kjw7#XRP #XRPcommunity pic.twitter.com/f21cmOCmkb
— Dillon (@Dillon) July 19, 2019
Ripple, XRP, Sentbe and MoneyGram
Sentbe is one of the most important international remittance services in South Korea and operates with government certification. It is a startup that makes cross-border money transfers easier, faster and cheaper.
At the beginning of the year, Samsung launched a pilot project to be integrated into Samsung Pay to allow cross-border money transfers. Among the services collaborating with Samsung, there is Sentbe. The beta service will be available in 17 countries, including the United States, China and Japan. The company plans to gradually extend the service to other countries and add more partners.
The collaboration between Sentbe and MoneyGram aligns with MoneyGram’s goal of offering consumers a wide range of digital money transfer options.
Sentbe will focus on offering remittances to its customers using xRapid. In particular, using XRP for transactions will encourage long-term growth in trading volume.