Ripple reveals new details about the partnership that feeds instant payments from Japan to Thailand


Ripple is revealing as a partnership between SBI Remit and Siam Commercial Bank (SBC) offers people in Japan a new, instant way to send money abroad.

SBI and SBC teamed up to use Ripple xCurrent's business blockchain solution to power payments in real time between Japan and Thailand. According to Ripple:

"This makes it possible for 47,000 Thai citizens living in Japan to send money back home faster.The customers of SBI Remit can use the ATMs to immediately send money in JPY to the SCB savings account of a recipient in Thailand and receive THB funds in seconds, before offering this service, recipients were required to recover money through an agent. "

Ripple released a new video demonstrating how the partnership works for real-world customers .

SBI invested in Ripple in 2016. Representative director at SBI Remit Nobuo Ando states that the company is examining all the ways in which it can use the company's blockchain technology to improve remittances.

"It is our duty to continually seek advanced technological solutions to offer ever better remittance services to our customers.With the constant increase in remittance flows, we see Ripple that helps us to open new revenue potential for our business and a better overall experience for our customers. "

The partnership does not use xRapid, the on-demand liquidity service of Ripple powered by XRP.

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