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International Business Times
International Business Times
Business
Marvie Basilan

Thailand's SCB Announces 24/7 Stablecoin Remittances In Lightnet Partnership, Powered By Fireblocks

Fireblocks SCB Thailand blockchain fintech PayPal SCB 10X Siam Commercial Bank
Leveraging Fireblocks' custody technology, Thailand's first commercial bank has partnered with Lightnet to integrate stablecoin transfers. (Credit: Siam Commercial Bank)

KEY POINTS

  • The stablecoin transfer solution for cross-border settlements will be available 24/7
  • SCB said the initiative further demonstrates the bank's commitment to leveraging cutting-edge technology
  • Fireblocks noted how the project exemplifies the transformative power of blockchain in banking

Thailand's first commercial bank, Siam Commercial Bank (SCB), in partnership with SCB 10X, on Wednesday announced a collaboration with fintech firm Lightnet to integrate stablecoin settlement on the public blockchain network, enhancing cross-border payments and remittances.

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