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Thai Bank Slams the Brakes on Ripple and XRP Rumors

June 07, 2019

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Siam Commercial Bank (SBC) is slamming the brakes after teasing upcoming support for Ripple’s XRP-based cross-border payment solution xRapid.

In the last few weeks, SBC told users on Twitter to wait for a further announcement on XRP and sent out a now-deleted tweet teasing the launch of an “XRP system”. Now the bank, which is the third largest in Thailand, is in the middle of a complete reversal – telling users it has absolutely no plans to use XRP.

We are so sorry for the previous information of the previous post. As of now we have no plan on using XRP.

— SCB Thailand (@scb_thailand) June 7, 2019

SBC remains a Ripple partner and uses the company’s distributed ledger-based platform xCurrent to power cross-border payments between Thailand and Japan.

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