• Latest

Thailand’s Largest Company PTTEP Integrating Ripple’s Tech With SCB

April 23, 2019
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Ripple

Thailand’s Largest Company PTTEP Integrating Ripple’s Tech With SCB

coinnewsdaily by coinnewsdaily
April 23, 2019
in Ripple
0
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
ripple claims ‘a very big win’ in sec case

Ripple claims ‘a very big win’ in SEC case

April 19, 2022

Ripple’s underlying blockchain products are becoming a trusted source across various banking and payment firms. According to the official post by Siam Commercial Bank (SCB) which has already integrated Ripple’s tech, is now partnering with Thailand’s PPT Exploration and Production Public Company Limited (PTTEP) to employ Ripple’s blockchain technology solution.

The news was released after SCB published a press report – the partnership is the first of its kind to employ blockchain in terms of B2B format. According, Mr. Phimonpha Santichok, Senior Vice President and CEO of Commercial Banking Solutions Siam Commercial Bank explains;

By signing this partnership, it is the first time that the bank decided to use the system in B2B format. “

PTTEP is a subsidiary of Thailand’s PPT Public Company Limited which was established in the year 1985. PPT Exploration or PTTEP is the petroleum exploration and production company of Thailand, headed by Somporn Vongvuthipornchai as its Current chief executive officer (CEO).

According to PTTEP’s CEO, the partnership to adopt Ripple’s tech together with SCB will boost the efficiency of the cross-border financial transactions in less time at PTTEP. He further says that;

PTTEP has collaborated with Siam Commercial Bank to implement Ripple’s Blockchain technology in international money transfer transactions, Vongvuthipornchai Said

Resulting in lower costs Which reflects PTTEP’s determination to seek new approaches or methods To increase the efficiency of work relentlessly In order to maintain business competitiveness Keep up with the changes that will always happen. “

Besides, Ripple’s technology implementation into the company’s key affairs, it is hoping to bring it across all departments. Similar to PTTEP which is the Thai based oldest ventures, Siam Commercial Bank was also founded in the year 1907 in Thailand. Per the partnership, PTTEC will work closely with SCB and employs disruptive blockchain technology for their financial transactions.

However, the press didn’t mention specific Ripple based technology to be used by PTTEP but we probably see RippleNet get onboard. This is because, in 2018, Ripple had officially released an announcement stating that ‘SCB will be the first financial institution on RippleNet to access its feature dubbed as ‘multi-hop’. The blog goes as follows;

Siam Commercial Bank (SCB) will be the first financial institution on RippleNet to pioneer a key feature called “multi-hop”, which allows them to settle frictionless payments on behalf of other financial institutions on the network. This eliminates the need for a direct one-to-one connection (or bilateral relationship) between financial institutions to settle a payment. Using multi-hop, SCB will be able to receive and forward on a payment without a bilateral relationship between the originator and beneficiary institutions.

Nevertheless, concerning SCB and PTTEP’s partnership to adopt Ripple’s tech, Marcus Treacher the Global Head of Strategic Accounts at Ripple also took to Twitter and expressed his excitement. He mentioned about RippleNet and said;

Good #RippleNet momentum in Thailand. Siam Commercial Bank & PTTEP. Great to see https://t.co/Z9zJ5r7dAp

— Marcus Treacher (@marcus_treacher) April 22, 2019

What do you think readers,? Let us know in the comment below 

Image source – Official SCB announcement post


Ads by Cointraffic



Credit: Source link

Share76Tweet48
Previous Post

Coinbase’s Political Action Committee Shuts Down Without Ever Raising a Cent

Next Post

Student Gets 10-Year Jail Term for SIM-Swap Crypto Thefts Worth $7.5 Million

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
ripple claims ‘a very big win’ in sec case
Ripple

Ripple claims ‘a very big win’ in SEC case

April 19, 2022
ripple’s case: how will it affect xrp’s 2022 price?
Ripple

Ripple case: How will it affect XRP 2022 price?

April 17, 2022
price analysis 4/11: btc, eth, bnb, sol, xrp, ada, luna, avax, dot, doge
Bitcoin

Price analysis 4/11: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

April 11, 2022
price analysis 4/6: btc, eth, bnb, sol, xrp, ada, luna, avax, dot, doge
Bitcoin

Price analysis 4/6: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

April 7, 2022
price analysis 4/4: btc, eth, bnb, sol, xrp, ada, luna, avax, dot, doge
Bitcoin

Price analysis 4/4: BTC, ETH, BNB, SOL, XRP, ADA, LUNA, AVAX, DOT, DOGE

April 4, 2022
Load More
Next Post
Student Gets 10-Year Jail Term for SIM-Swap Crypto Thefts Worth $7.5 Million

Student Gets 10-Year Jail Term for SIM-Swap Crypto Thefts Worth $7.5 Million

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$27,593.00-2.58%
  • ethereumEthereum(ETH)$1,760.62-2.32%
  • tetherTether(USDT)$1.00-0.34%
  • binancecoinBNB(BNB)$324.50-4.52%
  • rippleXRP(XRP)$0.428480-7.06%
  • cardanoCardano(ADA)$0.3642210.47%
  • dogecoinDogecoin(DOGE)$0.074275-1.77%
  • matic-networkPolygon(MATIC)$1.12-2.17%
  • solanaSolana(SOL)$21.89-2.64%
  • polkadotPolkadot(DOT)$6.16-1.44%
  • shiba-inuShiba Inu(SHIB)$0.000011-1.80%
  • tronTRON(TRX)$0.065521-2.65%
  • litecoinLitecoin(LTC)$81.740.24%
  • daiDai(DAI)$1.000.18%
  • chainlinkChainlink(LINK)$7.300.31%
  • cosmosCosmos Hub(ATOM)$11.28-5.35%
  • leo-tokenLEO Token(LEO)$3.38-2.77%
  • ethereum-classicEthereum Classic(ETC)$20.12-1.64%
  • moneroMonero(XMR)$150.32-2.35%
  • okbOKB(OKB)$45.04-1.46%
  • bitcoin-cashBitcoin Cash(BCH)$128.66-2.78%
  • stellarStellar(XLM)$0.091040-4.01%
  • filecoinFilecoin(FIL)$5.69-3.62%
  • crypto-com-chainCronos(CRO)$0.069355-2.76%
  • vechainVeChain(VET)$0.022805-4.48%
  • algorandAlgorand(ALGO)$0.2206351.78%
  • internet-computerInternet Computer(ICP)$5.10-1.84%
  • eosEOS(EOS)$1.12-4.52%
  • aaveAave(AAVE)$75.69-2.48%
  • elrond-erd-2MultiversX(EGLD)$42.18-5.08%
  • tezosTezos(XTZ)$1.14-2.61%
  • theta-tokenTheta Network(THETA)$1.02-2.87%
  • havvenSynthetix Network(SNX)$2.77-3.56%
  • neoNEO(NEO)$11.87-3.84%
  • paxos-standardPax Dollar(USDP)$1.010.12%
  • bitcoin-cash-svBitcoin SV(BSV)$36.64-1.78%
  • pancakeswap-tokenPancakeSwap(CAKE)$3.77-3.05%
  • huobi-tokenHuobi(HT)$3.96-3.26%
  • dashDash(DASH)$56.47-2.33%
  • makerMaker(MKR)$672.47-1.32%
  • iotaIOTA(MIOTA)$0.210488-4.22%
  • zilliqaZilliqa(ZIL)$0.027570-3.54%
  • zcashZcash(ZEC)$35.02-2.06%
  • basic-attention-tokenBasic Attention(BAT)$0.243629-2.03%
  • nemNEM(XEM)$0.0397260.21%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • qtumQtum(QTUM)$3.11-2.60%
  • kusamaKusama(KSM)$33.40-4.49%
  • bitcoin-goldBitcoin Gold(BTG)$17.032.02%
  • compound-governance-tokenCompound(COMP)$43.21-2.88%
  • yearn-financeyearn.finance(YFI)$8,596.90-2.17%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • omisegoOMG Network(OMG)$1.75-5.26%
  • golemGolem(GLM)$0.243549-1.59%
  • wavesWaves(WAVES)$2.22-1.19%
  • sushiSushi(SUSHI)$1.08-6.32%
  • ontologyOntology(ONT)$0.227570-1.88%
  • digibyteDigiByte(DGB)$0.009615-2.65%
  • umaUMA(UMA)$2.06-1.57%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%