Ripple is an American startup that provides payment solutions to companies worldwide. Here, the speed is optimized and the costs are reduced. Among the newest members of RippleNet is a young company from South Korea, which also offers payment services.
Fintech startup Sentbe has joined RippleNet and is expanding its network of banks and financial services using Ripple's cross-border products . According to its own description, Sentbe is a financial technology startup based in South Korea, which makes cross-border money transfer from person to person easier, faster and cheaper through innovative technologies. Sentbe is licensed as a financial institution in South Korea and strives to create financial opportunities and equal opportunities by disrupting the inertia of traditional finances. "
The fintech startup revealed the partnership on their website. In addition, Sentbe recently became the first visual agent and partner of MoneyGram in South Korea. Moneygram has been a partner of Ripple for some time and is diligently testing xRapid in practice. Sentbe CEO Alex Choi states that the company is constantly looking for new partners and innovations in the industry, otherwise valuable potential could be wasted (freely translated):
"Innovations that simplify the money transfer process are our top priority, and there is no better time than now to start this step with MoneyGram. We are now in an even better position to meet the demand for technically savvy solutions in this area and look forward to the change that this brings to the diverse community in which we operate."
According to a Pulse press release, the South Korean startup has also partnered with Samsung to drive the use of Samsung Pay in more than 17 countries. The ripple community is currently discussing heatedly which payment solution, whether xCurrent or xRapid, actually wants to use Sentbe in practice. However, until now there is no official statement or confirmation for the mentioned software solutions. Sentbe has accumulated billions of Korean won worth of transactions, according to a press release from Moneygram, making it one of South Korea's largest money transfer companies.