Thailand’s largest commercial bank, the Siam Commercial Bank (SCB), has hinted that it will use Ripple’s XRP token, saying that users “will have to wait for further announcements.” The bank published a blog post earlier week detailing the application of blockchain technology in various industries.
The bank, the oldest in the country, in April conducted a cross-border payments trial using Ripple’s technology, reducing transaction times from 2 days to just 1 minute. Should SCB further involve themselves with Ripple, it would be a great boost for Ripple, which has making tremendous progress with securing partners and expanding its network.
Ripple is quickly becoming a go-to network for banks to begin using DLTs to speed up their systems and reduce costs. CEO Brad Garlinghouse recently likened Ripple to SWIFT 2.0, and reportedly made a positive impression on attendees at the Swiss National Bank Conference.
Several banks, both central and private, have been mulling over the use of Distributed Ledger Technologies (DLTs), with some even considering launching their own Central Bank Digital Currencies (CBDC).
With Floki Inu's next bull run approaching, investors are closely monitoring its innovative token burn…
BlockDAG (BDAG) has continued to stand out with its innovative presale strategy, offering early investors…
As we venture into 2024, the crypto market is brimming with potential for unprecedented growth.…
This analysis contrasts the flourishing momentum of BlockDAG coin's presale against the backdrop of the…
Ever wondered what it is like to experience the extravagant casino vibes in the comfort…