XRP Market Cap Exceeds $40 Bln Amid Partnership Between GME And RippleNet

Global Money Express (GME Remittance), the largest non-bank money transfer provider in South Korea, has announced a partnership with RippleNet, the global financial network of blockchain firm Ripple. By joining RippleNet, GME Remittance is now connected to Siam Commercial Bank (SCB), Thailand's largest bank.

Amid the announcement of the partnership on August 11, the cryptocurrency hit the $0.90 price level for the first time since June 15, 2021. XRP's market cap has surpassed $41 bln, according to Coinmarketcap. XRP is up 8.5% in the last 24 hours, making it one of the top 10 performing digital currencies. At the time of writing, the XRP price is $0.8855.

In 2021, Ripple formed several partnerships to increase the spread of RippleNet and XRP. In late July 2021, Ripple announced a partnership with SBI Remit, the remittance arm of Japan's SBI financial group, and the Philippine crypto exchange Coins.ph to launch RippleNet's first on-demand liquidity (ODL) service in Japan.

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