SBI Ripple Asia, the company fused of Japan’s SBI Holdings and global payment network Ripple announced today a signed partnership agreement with DAYLI Intelligence, a subsidiary of DAYLI Financial Group, to bring Ripple’s enterprise blockchain solutions for cross-border payments to the South Korean market.
DAYLI Intelligence provides blockchain solutions and AI-based technology infrastructure for financial institutions and will work with SBI Ripple Asia to enable instant cross-border payments between customers in Japan and South Korea, as well as other global markets.
Commenting on the partnership, Takashi Okita, CEO of SBI Ripple Asia, said:
“South Korea is one of the most active markets worldwide when it comes to blockchain innovation and trading of digital assets. With trade flows into and out of the country totaling $960 billion every year, we also see a high and growing demand for Ripple’s frictionless payments solution in the country.”
“DAYLI Intelligence – a leading fintech firm – will help us to better serve our customers there.”
SBI Ripple Asia was formed in January 2016 with an engineering and sales force across Japan, China, Taiwan, Korea, and ASEAN countries to sell and install Ripple’s enterprise solutions for cross-border payments at banks across the region.
The company also currently manages a consortium of more than 60 Japanese banks who leverage Ripple’s enterprise blockchain technology for instant payments and settlement.
DAYLI, a leading Korean FinTech Player
Founded in 2015, DAYLI Financial Group is made up of specialized companies with specialized services and technologies in digital finance. One of those specialized services is based upon blockchain and cryptographic transactions such digital asset exchange and remittance services.
- DAYLI provides South Korean bitcoin and cryptocurrency exchange Coinone with fast and reliable trading services through an intuitive interface and system optimized for financial transactions. This past spring, Coinone launched Ripple (XRP) trading on its exchange, becoming one of the first exchanges in the country to support XRP. The listing of XRP on Coineone now looks like a trial run for more eventual developments through the country by DAYLI and SBI Ripple.
- DAYLI also supplies CROSS, a blockchain based overseas remittance service for five countries including China, Japan, Philippines, Vietnam, and India with an easy and fast overseas remittance service with 80% cheaper commission than standard and existing bank remittance.
“Our partnership with SBI Ripple Asia builds on our previous collaborations, including with South Korea’s first blockchain consortium as well as the Ministry of Science and ICT. We are proud to work with SBI Ripple Asia to bring Ripple’s innovative payments solution to the Korean market in order to enable businesses to send and receive payments quickly and efficiently.”