Thai Bank SCB to Add More Currencies to Ripple-Based Remittance Platform
March 14, 2018
One of the largest banks of Thailand Siam Commercial Bank (SCB) announced that it is going to add two more fiat currencies to its remittance platform, which is based on Ripple technology. The bank will add British pound and euro.
Chief Strategy Officer of SCB Arak Sutivong told Bangkok Times that the bank decided to add these currencies because it noticed a huge influx of them into the economy of Thailand.
British pound and euro will be integrated into the system in Q3 2018. At first, the service for these currencies will be available only for cross-border inbound transactions of retail customers, but the bank is actively searching for new partners in the banking sphere that will become correspondent banks in the Ripple network.