Ripple continues to broaden its partnership with big technology companies across Europe, Asia and Africa. The company recently expanded its partnership with Novatti to target Thailand’s market.
Ripple and Novatti Teamed up With Siam Commercial Bank to Expand to the Thai’s market
The payment technology company, headquartered in Australia, announced the news today. Since the beginning of their collaboration started last year in December, the two companies have been working hard to reduce the cost of transactions and increase the speed of transfer through the use of XRP.
They teamed up with Siam Commercial Bank to achieve this goal, of which Novatti has confirmed that the partnership has generated a lot of profit.
RippleNet, a network for institutional payment providers, has been used to process thousands of transactions.
CEO of Novatti, Peter Cook, revealed that the purpose of the cooperation was to serve as a payment channel between Australia and the Philippines, a Southeast Asia country,
But after the massive success achieved in the first year of cooperation, they have decided to integrate their services in the new South Asia.
This collaboration is coming a few days after the payment company announced its association with the Royal Monetary Authority (RMA) of the Central Bank of Bhutan.
SEC Adjust Charges to Attack Payment Company
The company has continued to expand without minding the lawsuit levied against it by the US regulator. According to a media reporter, the regulator strategies and adjusts the charges to attack the payment network.
Judge Jeremy Hogan, a Legal expert, has condemned the move, showing that the regulator is losing the lawsuit against the payment company. He also believes the accusations are false and contradict the previous regulation claims that Ether is exempted as a security.