Thai Bank Extending Ripple Remittances to Euro and Pound

Thailand’s Siam Commercial Bank (SCB) is adding two new currencies to its Ripple-based blockchain remittance platform.

According to a report from the Bangkok Post on Tuesday, SCB, one of the largest commercial banks in the country, is now adding euros and British pounds to its cross-border remittance system powered by tech from Ripple, the San Francisco-based blockchain startup.

According to the bank’s chief strategy officer, Arak Sutivong, in an interview with the Post, the decision to add the new currency options came after the SCB noticed significant euro and pound inflow to the country.

With the update be completed by the third quarter of this year, Arak said the two new currencies will initially be focused on inbound remittance for retail customers through collaboration with banking members within the Ripple network…

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