Thailand’s earliest bank, Siam Commerical Bank (SCM), has actually hinted it will be explore blockchain innovation powered by Ripple.
Previously today, reports of its blockchain pilot appeared online after eagle-eyed users required to Twitter to share pictures of what seems a Ripple-based app for cross-border deals. “Send out cash abroad today at the most affordable rates through Ripple,” checks out a screenshot of the app, entitled SCB Easy.
SCB social networks representatives have given that attended to speculators on Twitter, declaring that more information about the Ripple XRP combination “ will be reveal [sic] quickly.”
Regrettably for Ripple lovers, although the Thai bank will count on blockchain innovation established by the Palo Alto-headquartered business, it stays uncertain whether the system will utilize its native token, XRP.
“ We will be utilizing [b] lockchain [t] echnology for [R] ipple however when it comes to XRP, you might need to await additional statement [sic],” SCB talked about Twitter.
This isn’t the very first time the Palo Alto company has actually worked together with banks. Undoubtedly, a bank in India just recently utilized Ripple tech to assist in global payments.
Regrettably, not all banks have actually had success trialing Ripple’s tech. Back in 2018, Western Union CEO Hikmet Ersek informed Fortune that after utilizing XRP-powered combinations for 6 months, the payment service had yet to see a monetary advantage.
It’ll be intriguing to see if things go much better for SCB.
Released May 23, 2019– 13: 43 UTC.
