SBI Ripple Asia unveils blockchain remittance service between Japan and Vietnam

Monday 18 November 2019 10:50 CET | News

Remittance company SBI Remit has launched the first blockchain-based money transfer service between Japan and Vietnam.

The group will be using RippleNet blockchain technology to facilitate the transfers, while the new service is part of SBI Ripple Asia – a collaborative project established between Ripple Labs and SBI Holdings.

Moreover, a preexisting partner of the group is international remittance company MoneyGram, which facilitates money transfers in around 10 minutes. Via the RippleNet technology, the group hopes its service will become faster and cheaper. Joining the service as its banking partner is Vietnam-based commercial bank Tien Phong Bank (TPBank), of which SBI Holdings owns a 19.9% share.

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Keywords: SBI Ripple Asia, launch, blockchain, remittance, Japan, Vietnam, money transfer, SBI Holdings, banking
Categories: Banking & Fintech
Countries: Asia
This article is part of category

Banking & Fintech