Significant changes in cross-border payments have occurred thanks to the new collaboration between Ripple and Thunes.
Thunes' Role in the Payment Space
Thunes plays a critical role as a back-end provider of last-mile payment solutions. The company facilitates access to over 80 currencies and supports more than 3 billion mobile wallets, allowing transfers to take place efficiently in regions where SWIFT may face challenges.
Ripple's Strategic Positioning
The collaboration with Thunes allows Ripple to solidify its role in global payments. This partnership goes beyond a routine fintech collaboration, with Thunes described as the 'last-mile king.' The integration enables banks and fintechs to complete cross-border transactions in seconds instead of days.
Impact on XRP Demand and Compliance
Ripple emphasizes compliance as a differentiator, integrating proof-of-reserves and local KYC mechanisms. This helps explain why regulators enable Ripple to operate where others face hurdles. The expansion also implies increased demand for XRP as a liquidity source as new corridors are added.
The Ripple-Thunes deal represents more than a partnership; it opens access to billions of wallets across 130 countries and signals a potential transformation in the global payments market.
