BANGKOK — Siam Commercial Bank on Wednesday launched Thailand's first cross-border payment solution using stablecoins, or digital assets pegged to gold or dollars. regional leadership in banking and financial innovation.
The technology will enable faster, round-the-clock international transactions for retail customers of SCB, Thailand's oldest and fourth largest lender by assets. Cross-border payments usually involve several layers of clearance, including currency conversions paid by customers, and require banks to maintain balances with each other.