Thai bank launches Ripple-driven instant payment app

Thailand’s longest-running and largest mainstream bank Siam Commercial Bank (SCB) rolls out an instant payment app powered by Ripple, as per Ripple’s official blog post dated 8th Jan 2020. Ripple’s never-seen-before technology has garnered immense attention from banks all over the world, quickly making it a go-to network for facilitating super fast international remittances. Vietnamese bank, Tien Phong Commercial Bank (TPBank) embraced Ripple’s DLT-based remittance network, RippleNet, to explore the enterprise-grade blockchain payments network in November last year. Moreover, in October, India’s leading commercial bank, Federal Bank, also vouched for Ripple’s ability to revolutionize the payments industry and integrated it