Credit: Ripple – Arthit Sriumporn – SVP Siam Bank
The blockchain business Ripple announced to have developed a mobile payment app for Siam Commercial Bank, the oldest bank of Thailand.
According to a press release, Ripple has partnered with Siam Commercial Bank (SCB) and created SCB Easy, a mobile application built on its technology and allowing to perform cross-border payments instantly and at a lower cost.
"It is difficult to send and receive money today. People have to physically go to a bank branch, fill out forms and wait for payments to be received, without any transparency. With our service, people overseas can transfer and receive money instantly, "said Arthit Sriumporn, SVP at Siam Commercial Bank.
Founded in 1907 in Bangkok, the bank plans to rapidly expand the service to new countries, including Cambodia, Laos, and Vietnam.
In addition, always in collaboration with Ripple, she now wants to develop a payment offer " EMVCo QR To facilitate micro-payments through the use of QR Code.
In early 2019, the British Finablr associated with Siam bank to allow customers to instantly transfer money to the Thailand thanks to the solution RippleNet. The Thai financial institution has already indirectly benefited from Ripple technology for about a year.
Last month, the Californian firm specializing in blockchain raised $ 200 million additional.
Related posts:
GitHub Libra Code draws criticism from users 
Tipping on Reddit and Vimeo in BAT introduced by Brave 
Newcomers to the crypto market have to pay attention to scams and pump and dumps 
Hardly any growth in downloaded crypto apps, despite tripling price bitcoin 
Bloomberg accepts Bitcoin – says cryptomonads are here to stay 
The Central Bank can release their cryptocurrencies earlier than expected
