Founded in February 2018, Bitkub is a new generation digital asset and cryptocurrency exchange platform that offers advanced exchange services to individuals who intend to buy, sell, and store cryptocurrencies. They are a legally registered company, with a starting capital of 50 million baht (1.65 million USD) and currently based in Bangkok, Thailand.
Topp Jirayut, the co-founder and CEO of Bitkub, in an interview with Topp while attending the Next Block Asia 2.0 in Bangkok, revealed that Bitkub is Ripple’s official exchange partner in Thailand:
“Bitkub, Ripple’s official exchange partner in Thailand, is joining the Ripplenet programme. We are on a mission of humanizing blockchain experience- where people will inherently utilize cryptocurrency as a transaction protocol on the backend in order to receive as well as transfer money at a fraction of the cost across the globe. Within early next year, global money remittance at a much cheaper rate would be feasible.“
Topp explained that Ripple is one of the key players for banks to realize significant benefits. Ripple is to establish an institutional, cross-border payment with XRP, an open source for access and participation in the public sector of XRP cash flow- a stand-alone digital currency used to facilitate transactions on the Ripple network.
Bitkub’s CEO attended Swell back in November, while Eric Van Miltenburg (SVP Global Operations at Ripple) revealed in an interview that Ripple would launch ODL products in Thailand in 2020.
With Krungsri Bank and Siam Commercial Bank both active RippleNet members in Thailand, it is expected that they might start using ODL and XRP in 2020, with Bitkub facilitating those payments.
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