Digital money transfer service, Azimo, has partnered with Siam Commercial Bank (SCB), the oldest bank in Thailand, to launch an instant cross-border payments service from Europe to Thailand through Ripple’s global payments network, RippleNet.
According to an announcement on April 9, the solution aims to solve the challenges of expensive and unreliable global payments. They state that through their platform, remittances from Europe to Thailand will take less than a minute to complete.