SBI Ripple Asia has today signed a collaboration contract with DAYLI Intelligence, a subsidiary of DAYLI Financial Group, to bring Ripple’s business blockchain services for cross-border payments to the South Korean market.
DAYLI Intelligence offers blockchain services and AI-based innovation facilities for banks and will deal with SBI Ripple Asia to make it possible for instantaneous cross-border payments in between consumers in Japan and South Korea, along with other international markets. The blockchain-powered payments option will make it possible for day-and-night settlement at a substantial cost savings to both banks and customers throughout the area.
Talking about the collaboration, Takashi Okita, CEO of SBI Ripple Asia, stated: “South Korea is among the most active markets worldwide when it pertains to blockchain development and trading of digital properties. With trade streams into and out of the nation amounting to $960 billion every year, we likewise see a high and growing need for Ripple’s smooth payments option in the nation. DAYLI Intelligence – a leading fintech company – will assist us to much better serve our consumers there.”
Kyoung June Eee, CEO of DAYLI Intelligence, stated: “Our collaboration with SBI Ripple Asia constructs on our previous cooperations, consisting of with South Korea’s very first blockchain consortium along with the Ministry of Science and ICT. We are happy to deal with SBI Ripple Asia to bring Ripple’s ingenious payments option to the Korean market in order to make it possible for services to send out and get payments rapidly and effectively.”
SBI Ripple Asia was formed in early 2016 and handles a consortium of more than 60 Japanese banks who take advantage of Ripple’s business blockchain innovation for instantaneous payments and settlement. You can find out more about SBI Ripple Asia here.