- Thunes accelerates its partnership with Ripple to advance its Direct Global Network for a faster, more secure, more accessible, and more efficient cross-border payment system.
- The company also integrates Ripple Payments solutions in its SmartX Treasury System for liquidity management.
Thunes, a global B2B (Business-to-Business) company providing a proprietary cross-border payments network, announced its expanded partnership with Ripple, a technology company that uses the XRP Ledger (XRPL) for cross-border payment solutions. The two have already forged an alliance in 2020, but the renewed collaboration aims to enhance customer experience with more efficient and broader market coverage.
Thunes’ Direct Global Network Meets Ripple’s Solutions
Combining Thunes’ proprietary Direct Global Network and Ripple’s XRPL-based solutions advances and streamlines their cross-border payment rails, bringing in lower costs and higher availability for enterprise clients.
Thunes platform facilitates real-time payouts in local currencies and serves as a “last-mile” delivery in areas with limited banking coverage. Its fusion with blockchain tech allows it to supercharge its mechanism for a more secure, efficient, and accessible network. The partnership also boosts the capabilities of Thunes’ SmartX Treasury System, integrating Ripple Payments in its system, for better liquidity management in cross-border transactions.
What the Expanded Partnership Entails
Chloe Mayenobe, President and COO of Thunes, highlighted that their company is a trusted platform for traditional and digital finance entities. She believes their Smart Superhighway is in an advantageous position for linking the two worlds.
“Members across both the traditional finance space and the digital assets ecosystem connect with Thunes,” said Mayenobe. “We are in a prime position to bridge these two worlds and drive the future of digital assets, and our alliance with Ripple underscores this.”
Thunes’ Smart Superhighway services are available in over 130 countries, supporting more than 80 currencies. It bridges over seven billion mobile wallets and bank accounts, and 15 billion cards through 320 payment methods.
“By supporting real-time settlement and deep local integrations, we are enabling digital asset companies to deliver seamless, compliant, and accessible cross-border payments at scale,” she added.
Meanwhile, Fiona Murray, Managing Director of Ripple’s Asia Pacific arm, emphasized their company’s commitment to help accelerate the global payments sector through blockchain technology. She noted that their partnership aligns with the shared goals of Ripple and Thunes.
“We are committed to reshaping the future of global payments through blockchain technology. Our partnership with Thunes accelerates our shared mission to improve the efficiency, speed, and security of global payments,” Murray commented. “By combining Thunes’ extensive and trusted Direct Global Network with Ripple’s digital asset infrastructure, we are enhancing payment speed, accessibility, and compliance across regions.”
To date, Ripple Payments extends to over 90 payout markets, translating to more than 90% coverage of the daily foreign exchange (FX) markets. Additionally, it handles around $70 billion in transaction volume.
“This partnership not only facilitates seamless, low-cost transactions, but also supports the growing demand for innovative, blockchain-powered financial solutions globally,” Murray went on.
Final Thoughts
Overall, the renewed partnership between Thunes and Ripple underscores a shared commitment to leveraging innovative technology to improve the accessibility and efficiency of global financial transactions amid the rapidly-changing and more competitive financial landscape.
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