According to a recent news release, RippleNet member 2C2P has formed a strategic relationship with Ant Group, the parent firm of Alipay. Together, the two companies hope to increase digital payment usage and innovation throughout Southeast Asia.
Ant Group will become the largest shareholder in 2C2P once the agreement is established. The former is a subsidiary of Alibaba Group, a Chinese conglomerate. According to the press release, 2C2P’s pool of merchants will link to Alipay as part of the agreement, expanding the RippleNet client’s current 250 payment possibilities to a much larger number of e-wallets and payment alternatives utilised in Southeast Asia.
This will make it simple for retailers to reach over a billion clients all around the world. Aung Kyaw Moe, the chief executive of 2C2P and its founder, noted that digital payment development has accelerated in recent years, with mobile wallet payments becoming increasingly popular in Asia. He claims that the Ant Group relationship will allow the company to develop abroad.
In 2020, 2C2P’s Southeast Asia regional remittance venue, easy2send, launched a new payments corridor that began in Thailand and ended in Singapore. It was created in partnership with Nium and Ripple, a fintech powerhouse based in San Francisco, California.
Easy2send was founded in 2019 to facilitate money transfers from Thailand to Myanmar and Cambodia. It is now spreading to other parts of Southeast Asia as well.
When the agreement was announced, Piyachart Ratanaprasartporn, the CEO of 2C2P Thailand, indicated that the company’s relationship with Nium and Ripple would enable easy2send to make cross-border payments more efficiently.
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