Thanks to SBI Remit, Siam Commercial Bank (SCB) and Ripple, 45,000 Thai nationals living in Japan can send money home faster.
Remittance flows between Japan and Thailand have been steadily growing and currently make up roughly $250 million USD annually. Yet, the remittance infrastructure hasn’t kept up with customer needs. Funds transfers can take up to two days, fees average a whopping 5-7% for each transaction, and there is no visibility into when funds actually arrive.
Discover the development through Ripple’s news.