SCB Thailand Confirms Use Of XRP

SCB Thailand Confirms Use Of XRP

The biggest commercial bank in Thailand, the Siam Commercial Bank (SCB), has once again hinted at the use of XRP token. Well we say hinted but it’s essentially confirmation as a tweet from the bank's official account yesterday says this:

The SCB has previously mentioned XRP on their Twitter page but they have always said that it would inform users about the XRP acceptance when the news was ready. So far, the bank has conducted a cross-border transfer pilot which is being powered by Ripple. This reduces a days-long transaction process to just a couple of minutes. On top of this, the bank has conducted a transfer from Japan to Thailand which took but a few seconds.

As reported by Invest in Blockchain:

“The nation as a whole has also displayed great interest in distributed payment systems, having formed a 22-member blockchain coalition called the Thailand Blockchain Community with the intention of creating a payments for the entire country.”

2019: The Story So Far

This year has been a favourable one for Ripple so far. In terms of making the project more popular and integrations, they are doing great. Not to mention the several banks across the globe announcing that the would use Ripple’s technology to achieve faster cross-border payments.

The CEO of Ripple, Brad Garlinghouse has been making moves to educate the financial industry on the benefits of Ripple’s solutions and the strong awareness efforts that might be seen for god developments as a result.

In terms of price, Ripple’s XRP is current sat at the four cents mark following a 0.18 percent change over the past 24 hours.

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