US blockchain company Ripple has expanded its partnership with Singapore-based payments firm Thunes based on their 2020 collaboration. The partnership aims to improve international transfers by combining blockchain infrastructure with payout networks.
The initiative targets more than 90 markets, addressing growing demand for faster and lower-cost cross-border transactions in developed and emerging economies.
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Thunes operates a “Smart Superhighway” that connects banks, wallets, and card providers. The company is extending its cooperation with Ripple to improve liquidity management and settlement efficiency. International transfers are still fragmented and costly, especially in regions with limited banking services.
Both firms seek to simplify payments by merging Ripple’s blockchain technology with Thunes’ Direct Global Network. Ripple reports that its payment platform has processed over $70 billion in volume. The company promotes blockchain tools for transparency, speed, and regulatory oversight.
A key element of the agreement is Ripple’s integration with Thunes’ SmartX Treasury System. The platform manages liquidity flows across its network. The addition allows payouts in local currencies, which is essential for markets where mobile wallets dominate access to finance. Meanwhile, M-Pesa, GCash, and WeChat Pay remain vital in economies with limited bank coverage.
Ripple has emphasized compliance to distinguish itself from other blockchain firms. The company publishes proof-of-reserves reports and undergoes independent audits. These measures aim to counter concerns about inflated volumes in digital asset markets.
On its homepage, Thunes introduces itself as operating a proprietary global payment network connecting 130+ countries, 80+ currencies, 3 billion mobile wallets, and 4 billion bank accounts. The company states that it enables businesses and consumers to instantly send and accept cross-border payments worldwide through any payment method.
The extended cooperation highlights a broader industry trend. Firms are now blending blockchain innovation with the regulatory framework of traditional finance. The partnership could reduce transfer costs and improve transaction speed for businesses. For consumers, it may expand access to financial services across borders, particularly in regions where conventional banking remains limited.
Source: https://beincrypto.com/ripple-deepens-global-payments-alliance-with-thunes/
