In a move that will make your cross-border payments feel like they’ve been shot out of a cannon, US blockchain company Ripple has decided to expand its partnership with Singapore-based payments guru Thunes. This is based on their 2020 rendezvous, which was nice, but it clearly wasn’t enough. Now, they’ve decided to combine blockchain infrastructure with payout networks in a way that will make international transfers a little less like watching paint dry.
And what’s the end goal? Well, the two companies are targeting over 90 markets. Apparently, there’s a growing need for faster and cheaper cross-border transactions, especially in places that are still stuck in the dark ages of financial systems.
Expanding Reach in Cross-Border Payments
Thunes, which sounds like a made-up word someone used after too many cups of coffee, operates a “Smart Superhighway” (because who wouldn’t want to drive on that?). This highway connects banks, wallets, and card providers across the globe. Now, they’re extending their cooperation with Ripple to improve liquidity management and settlement efficiency. Why? Because international transfers are still, much to everyone’s chagrin, fragmented and way too expensive – especially in places where banking services are as scarce as a good WiFi connection.
So, how are these two teaming up to solve the problem? They’re merging Ripple’s shiny blockchain technology with Thunes’ Direct Global Network. Apparently, Ripple’s payment platform has processed over $70 billion. That’s a lot of zeroes. Ripple is also very keen on touting its blockchain tools for transparency, speed, and, of course, regulatory oversight. Because who doesn’t love a little bit of bureaucracy mixed with their high-tech financial wizardry?
The real kicker here is the integration of Ripple’s blockchain with Thunes’ SmartX Treasury System. This is the platform that manages liquidity across their network. It also allows payouts in local currencies. You know, because that’s important in markets where mobile wallets are king. Meanwhile, the likes of M-Pesa, GCash, and WeChat Pay are still making their mark in places where banks are as rare as unicorns.
Ripple, being the ever-diligent company it is, has made compliance a big part of its shtick. It publishes proof-of-reserves reports and undergoes independent audits. This is their way of saying, “Don’t worry, we’re not inflating any numbers here!” Because, you know, there’s always that pesky issue of digital asset markets being a little… unpredictable.
On Thunes’ homepage (because of course they have one), they boast about operating a global payment network that connects over 130 countries, 80+ currencies, 3 billion mobile wallets, and 4 billion bank accounts. So basically, they’re everywhere. Thunes claims to enable businesses and consumers to send and accept cross-border payments instantly through any payment method. I mean, sure, it sounds impressive. But will it finally let me pay for my coffee in New York with a Singaporean dollar? Only time will tell.
This partnership is also indicative of a broader trend in the industry: firms are starting to blend blockchain innovation with the old-school, slightly dusty regulatory frameworks of traditional finance. The hope is that this will reduce transfer costs and speed things up for businesses. As for consumers, well, the dream is that this will bring financial services to more places, especially in regions where traditional banks are still trying to figure out how to use email.
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2025-09-04 06:07