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- SCB partners with Thunes to expand instant remittance services, covering 26 countries with 17 currencies through SCB Easy.
- SCB continues using RippleNet to enhance cross-border payments, ensuring fast, secure, and transparent global transfers.
Siam Commercial Bank (SCB), a Ripple partner, has strengthened its position in digital banking by partnering with Thunes to enhance the worldwide remittance capabilities of its SCB Easy app.
With the additional advantages of openness, dependability, and real-time processing, this cooperation lets their consumers send money to 26 countries in 17 different currencies. The partnership seeks to guarantee that receivers get the whole amount free from hidden fees by offering quick and reasonably priced worldwide transfers.
#Ripple partner SCB uses Ripple for their SCB Easy remit app, to "integrate w/ partners around the world." They just partnered with Thunes for outward remittances. Thunes has never been a confirmed partner, but they connect to many Ripple powered lines. https://t.co/TzvWFTzeau
— WrathofKahneman (@WKahneman) October 1, 2024
Thunes Partnership Expands SCB Global Reach with Ripple-Connected Payment Solutions
As Thunes keeps improving its international money transfer operations, the inclusion of its worldwide payment network within the SCB Easy app signals a major turning point for SCB.
Through enabling transfers to important nations such as Australia, Canada, China, and Indonesia, this alliance helps SCB’s users access cross-border financial activities.
Expanding the possibilities accessible for consumers and meeting a rising demand for digital banking solutions, the SCB Easy app now supports many currencies, including the Australian dollar, Japanese yen, and Chinese yuan.
Although Thunes has not specifically confirmed as a Ripple partner, the network is clearly connected to various Ripple-powered payment channels. This breakthrough complements SCB’s long-standing cooperation with Ripple, which has driven the bank’s remittance operations using RippleNet from its inception.
Using RippleNet for cross-border payments guarantees quick and safe transactions, therefore improving the effectiveness of international remittances. Combining Thunes worldwide network with Ripple’s blockchain technology provides SCB with a competitive edge and a flawless worldwide payment experience for consumers.
The initiatives of SCB to transform its remittance systems complement its approach of using modern technology to meet changing customer behavior. The market for digital payment systems has exploded, and SCB is positioning itself as a leader in offering dependable and open worldwide transactions.
Lower transaction rates introduced via the SCB Easy app are likely to inspire more users of the platform, hence increasing its acceptance.
On the other hand, CNF has noted that changes to Vault and the Lending Protocol have helped Ripple streamline asset management on the XRP Ledger.
Beside that, as we previously reported, SBI Holdings, another partner of Ripple, is also joining Project Agora and looking into the blending of tokenized bank deposits with digital currencies issued by central banks.