It’s Now Faster and Easier to Send Money Between Japan and Thailand
The rollout of the service begins today. It’s the first commercially-available remittance service powered by Ripple. Those who use SBI Remit in Japan can instantly send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in seconds.
Dr. Arak Sutivong, chief strategy officer, SCB, said: “We are proud to be the first bank in Asia to use Ripple’s leading blockchain network solution to power real-time payments for our customers, whose families oftentimes depend on the availability of these funds for basic needs – time is of the essence to them.”
Mr. Nobuo Ando representative director, SBI Remit Co., Ltd. said: “It is our duty to continuously search for superior technological solutions to deliver ever improved remittance services for our customers. In this case, Ripple was impressive in concept and turned out to be more so in practice. Furthermore, we can expect to have more favorable foreign exchange opportunities as Ripple’s network expands. For this, we welcome more institutions to join and help us offer competitive remittance services over conventional methods to our valued customers.”