ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Cryptocurrency

Thailand’s Largest Commercial Bank Denies Using XRP

by Oliver Green
June 7, 2019
in Cryptocurrency
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

Last week, there was widespread news that Thailand largest commercial bank is planning to use XRP, however, the bank has denied the information.

Earlier, the Siam Commercial Bank (SCB), mistakenly said it is going to start using the digital currency soon, as seen in a tweet by the bank where it says “XRP system will be announced soon”.

Siam Commercial Bank did not mention the time to start the usage but promised to communicate its customers the moment it begins using the digital currency.

Today, however, the bank communicated its customers on Twitter claiming the first message was a mistake. It states that there is no plan to begin the use of the Ripple’s XRP for now.

SCB says: “We are so sorry for the previous information of the previous post. As of now we have no plan on using XRP”.

The bank, deleted a tweet where it first stated that it is planning to use XRP for cross-border transaction. When questioned, it said it did because it is not planning to use XRP any moment.

Ripple's XRP SCB Thailand

Note that SCB is using Ripple for cross-border remittance, just like prominent banks across the world are pitching behind the blockchain remittance technology offered by the San Francisco firm. In fact, SCB was the first financial institution to make use of RippleNet’s “multi-hop” feature.

Philippine’s SendFriend is Launching this Month

While Siam Bank rejected the usage of Ripple’s XRP, Philippine’s SendFriend has said it is launching by the end of the month. There is high expectation that the launch of SendFriend will increase XRP liquidity in Philippines since the payment application makes use of xRapid, a cross-border remittance tool that makes use of XRP.

Early this year, SendFriend announced it is using Ripple’s blockchain technology for cross-border payment. The announcement came shortly after the firm sealed a deal with Ripple Inc.

The partnership was centered on offering cheaper and seamless cross-border payment with the use of Ripple’s xRapid.

As Ripple keeps partnering with different financial institutions across the globe, the firm is as well increasing the usage of XRP by introducing its xRapid network to them.

Now, Ripple has announced that any financial institution making use of RippleNet has the advantage to use xRapid since the technology is included in the network.

Addendum: In a fresh reply to an XRP enthusiast, SCB said it is using Ripple’s xRapid from JPY to THB.

SCB Ripple's XRP

Tags: Binance Ripple's XRPBit-Z Supports RIpple's XRPContent monetization With Ripple's XRP CoilNETELLER Supports Ripple's XRPRippleRipple's XRPRIpple's XRP adoptionRipple's XRP California most usedRipple's XRP Drives Close To BitcoinRipple's XRP investmentRipple's XRP investorsRIpple's XRP Multi-hopRipple's XRP on CoinGate
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us