Thailand's SCB Bank will launch a stablecoin cross-border payment service

ChainCatcher news, Thailand's established bank Siam Commercial Bank (SCB) announced a partnership with fintech company Lightnet to provide customers with stablecoin cross-border payment and remittance services. The service allows customers to conduct cross-border transactions 24 hours a day, 7 days a week, significantly reducing transaction costs.

It is reported that the service has passed the regulatory sandbox testing by the Bank of Thailand.