Thomas: SCB and SBI Remit use Ripple to cut remittance costs by 90%
Stefan Thomas · 836: Crypto: $94m Raised to Be Enterprise Blockchain for Global Payments · Nov 7, 2017 · at 10:30
Ripple CTO Stefan Thomas explains real-world commercial adoption of Ripple's cross-border payment infrastructure between Japan and Thailand.
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“So they are licensing our technology, and then another company called SBI Remit in Japan is also licensing our technology. So they've come together and they've created a partnership where people in Japan, there's about 45,000 Thai people that are living in Japan, expats, and they need to send money back to Thailand. And so they can use this service to send money back at the, at a 10th of the cost that it was before.”
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