Major Thai Banks Use RippleNet to Expedite Cross Border Payments

Bank customers — both consumers and businesses — have spoken and they demand a faster way to send money globally. Krungsri (Bank of Ayudhya PCL), one of the largest banks in Thailand, heard the call, and in an effort to better serve their customers, they joined RippleNet to remove the friction from cross-border payments. In fact, Krungsri now uses Ripple’s enterprise blockchain network to help a large Southeast Asian petrochemical company, send real-time cross-border payments to its foreign customers — a first for financial institutions in the Thai region. Breaking…