Top 100 Coins
Trending Cryptos
Performance
Recently Listed
Gainers
All Categories
All Time High
Blockchains
Global Market Data
Ecosystems
Research
Rewards
Heatmaps
Drop Hunting
Alerts
Converter
Widgets
Market Data API
Futures and Options
Affiliate Program
SCB Launches Stablecoin Service for Cross-Border Payments in Thailand
Share:
- SCB launches stablecoin service for efficient, cost-effective cross-border payments.
- Partnership with Lightnet and Fireblocks drives SCB’s blockchain-based remittance service.
- Stablecoin adoption rises, with over $2.6 trillion settled internationally in 2024, expanding eligibility.
In Thailand, Siam Commercial Bank (SCB) launched a new stablecoin service to streamline cross-border payments. This move is a significant development in Thailand’s financial market, with SCB aiming to offer a more efficient and affordable solution for international money transfers.
SCB’s stablecoin service will facilitate cross-border transactions by eliminating the need for pre-funding between partners. The bank says the service will allow clients to transact in local currencies and improve capital efficiency.
Partnerships and Testing
This stablecoin solution is the result of a partnership between SCB, Lightnet, and Fireblocks. Lightnet will focus on developing blockchain-based financial services for the unbanked, while Fireblocks will provide secure systems and digital asset management.
SCB noted that the project was successfully tested in the Bank of Thailand’s regu…
The post SCB Launches Stablecoin Service for Cross-Border Payments in Thailand appeared first on Coin Edition.
In This News
Coins
Funds
Share:
In This News
Coins
Funds
Share:
Read More
Stablecoin Market Forecast: JPMorgan’s Sobering Reality Check on the $1 Trillion Dream
World Liberty Financial Eyes $120M Treasury Spend to Boost USD1 Adoption
SCB Launches Stablecoin Service for Cross-Border Payments in Thailand
Share:
- SCB launches stablecoin service for efficient, cost-effective cross-border payments.
- Partnership with Lightnet and Fireblocks drives SCB’s blockchain-based remittance service.
- Stablecoin adoption rises, with over $2.6 trillion settled internationally in 2024, expanding eligibility.
In Thailand, Siam Commercial Bank (SCB) launched a new stablecoin service to streamline cross-border payments. This move is a significant development in Thailand’s financial market, with SCB aiming to offer a more efficient and affordable solution for international money transfers.
SCB’s stablecoin service will facilitate cross-border transactions by eliminating the need for pre-funding between partners. The bank says the service will allow clients to transact in local currencies and improve capital efficiency.
Partnerships and Testing
This stablecoin solution is the result of a partnership between SCB, Lightnet, and Fireblocks. Lightnet will focus on developing blockchain-based financial services for the unbanked, while Fireblocks will provide secure systems and digital asset management.
SCB noted that the project was successfully tested in the Bank of Thailand’s regu…
The post SCB Launches Stablecoin Service for Cross-Border Payments in Thailand appeared first on Coin Edition.
In This News
Coins
Funds
Share:
In This News
Coins
Funds
Share:
Read More
Stablecoin Market Forecast: JPMorgan’s Sobering Reality Check on the $1 Trillion Dream