Thai Bank Slams the Brakes on Ripple and XRP Rumors

By Daily Hodl Staff

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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.

SBC remains 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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