- SCB has partnered with Thunes to expand its instant money transfer service through SCB Easy, covering 26 countries and 17 currencies.
- SCB continues to use RippleNet to power cross-border payments and ensure fast, secure, and transparent global money transfers.
Ripple partner Siam Commercial Bank (SCB) has strengthened its position in digital banking by: partner with We have partnered with Thunes to enhance the global money transfer capabilities of the SCB Easy app.
This cooperation provides the added benefits of openness, reliability, and real-time processing, allowing consumers to send money to 26 countries in 17 different currencies. The partnership aims to provide fast and affordable global money transfers, ensuring recipients receive the full amount without hidden fees.
#ripple Partner SCB uses Ripple in its SCB Easy money transfer app for “integration with partners around the world.” They just partnered with Toons for overseas remittances. Although Thunes has never been confirmed as a partner, it is connected to many Ripple power lines. https://t.co/TzvWFTzeau
— Rathof Kahneman (@WKahneman) October 1, 2024
Partnership with Thunes expands SCB’s global reach with Ripple-connected payment solutions
As Thunes continues to improve its international money transfer operations, the inclusion of its global payments network within the SCB Easy app marks a major shift for SCB.
By enabling remittances to important countries such as Australia and Canada, Chinaand in Indonesia, the partnership will enable SCB users to access cross-border financial activities.
To expand the possibilities available to consumers and meet the growing demand for digital banking solutions, the SCB Easy app now supports a number of currencies including Australian Dollar, Japanese Yen and Chinese Yuan.
Although Thunes has not specifically confirmed itself as a Ripple partner, it is clear that the network is connected to various payment channels powered by Ripple. This breakthrough complements SCB’s long-standing collaboration with Ripple, which has been driving banks’ remittance operations using RippleNet since its inception.
Using RippleNet for cross-border payments ensures fast and secure transactions and increases the efficiency of international money transfers. By combining Thunes’ global network and Ripple’s blockchain technology, SCB will strengthen its competitiveness and provide consumers with a flawless global payment experience.
SCB’s efforts to transform the remittance system complement its approach to using the latest technology to respond to changing customer behavior. The market for digital payment systems is exploding, and SCB has established itself as a leader in providing trusted, open global transactions.
The lower trading rates introduced through the SCB Easy app are likely to attract more users to the platform, thereby increasing its acceptance.
On the other hand, CNFs noticed Changes to Vault and Lending Protocol are helping Ripple streamline asset management on the XRP Ledger.
In addition, as before, reportedAnother Ripple partner, SBI Holdings, has also joined Project Agora and is exploring a blend of tokenized bank deposits and central bank-issued digital currencies.
