SBI Remit enables Thai nationals
in Japan to send money home instantly
SBI Remit, in collaboration with Siam Commercial Bank (SCB), is using Ripple’s blockchain enterprise solution, xCurrent, to power real-time remittance payments between Japan and Thailand.
This makes it possible for 47,000 Thai nationals living in Japan to send money home faster. SBI Remit’s customers can use ATMs to instantly send money in JPY to a recipient’s SCB savings account in Thailand and receive funds in THB within seconds. Before offering this service, recipients were required to retrieve cash through an agent.
Watch how xCurrent Works
“It is our duty to continuously search for superior technological solutions to deliver ever improved remittance services for our customers. With the steady rise of remittance flows, we see Ripple helping us open up new revenue potential for our business and a better overall experience for our customers.”
— Mr. Nobuo Ando, representative director at SBI Remit Co., Ltd
About SBI Remit
SBI Remit is the largest money transfer provider in Japan
SBI Remit is looking to become the best payment service provider for foreigners living in Japan.
SBI Remit and SCB are both using Ripple’s enterprise blockchain solution to enable instant remittance services.