The new cross-border stablecoin payment service is being implemented in partnership with Lightnet and Fireblocks. The payment solution will facilitate the procedures for conducting international transactions in digital assets and will be available to users around the clock.
SCB noted that thanks to the use of stablecoins, the bank’s corporate clients will receive reliable and cost-effective cross-border transfers without the need for prior financial reservations. In addition, SCB clients will be able to make transfers in their national currencies, bypassing conversion procedures.
An SCB representative said that the cross-border stablecoin payments project has successfully passed all the necessary regulatory procedures and received approval from the Bank of Thailand.
Earlier, the Securities and Exchange Commission of Thailand (SEC) allowed One Asset Management to create a fund for trading derivatives based on Bitcoin. The fund is called ONE Bitcoin ETF End of Funds Unhedged and not for Retail Investors (ONE-BTCETFOF-UI).
Source: Bits
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