Ripple has included South Korean Sentbe in its payment network! Regardless of which direction the market moves, Ripple continues to grow. After Moneygram, Ripple is now partnering with South Korea-based Sentbe.
Ripple has included South Korean Sentbe in its payment network
No matter which direction the market moves, Ripple is always taking decisive steps towards growth with new partnerships. Now Ripple continues to expand by adding South Korean Sentbe to its payment network.
Currently, the XRP token is keeping up with the overall upward trend in the market and is trading at $ 0.32 with a 3.21% increase at the time of writing. Ripple, the company behind the project, does not seem to care about market turbulence by constantly building new partnerships and hiring the best names in the market.
Another strategic partnership between Ripple and MoneyGram has been added
In June 2016, Ripple made the most important partnership with MoneyGram, the global money transfer giant. For a long time now, the company has been testing Ripple’s technology product xRapid for cheaper and faster money transfers.
Ripple established a strategic partnership by acquiring shares from the cross-border money transfer company Moneygram, and now MoneyGram customers can use xRapid and Ripple’s other products.
Also on July 19, Moneygram formed a partnership with Sentbe; this also means that Sentbe enters a partnership with Ripple. At the same time, Sentbe will focus on providing remittance services to its customers using xRapid.
With this partnership, Sentbe has made billions of Korean Won transactions since July 2019 and became the first branch of Moneygram in South Korea.
The collaboration between Sentbe and MoneyGram coincides with MoneyGram’s goal of offering a wide range of digital money transfer options to its users.
Sentbe is known as a South Korea-based financial technology company that provides easier, faster and cheaper cross-border money transfers with innovative technology.
Is the Ripple network decentralized?
Despite this latest partnership, there is a lot of FUD in the market. Specifically, claims that the Ripple network is central cause investors to worry.
Previously, the network was said to be technically central, as there were a limited number of users using Ripple products. However, it is claimed that over time, the network has grown through new partnerships, developments, and enterprise use situations, and therefore the network supporting XRP token is no longer central.
As partnerships and usage continue to grow, the XRP network is expected to become more secure by creating an ambitious and decentralized layer of international money transfer.