TechFlow reports, on October 17, according to Cointelegraph, Siam Commercial Bank (SCB), Thailand's oldest commercial bank, announced a collaboration with fintech company Lightnet to offer stablecoin-based cross-border payment and remittance services to its customers. The service enables customers to conduct cross-border transactions around the clock while significantly reducing transaction costs.
Founded in 1907, SCB is Thailand's first commercial bank. The newly launched stablecoin service has already passed testing within the regulatory sandbox of Thailand's central bank. Tridbodi Arunanondchai, CEO of Lightnet, said the project not only reduces capital requirements per transaction but also delivers unique value propositions for retail, corporate, and institutional clients, helping to promote financial inclusion.
