Thailand's Siam Commercial Bank will cooperate with Lightnet to launch stablecoin cross-border payment services

Siam Commercial Bank (SCB) of Thailand recently announced that it will partner with fintech company Lightnet to begin offering customers stablecoin cross-border payment and remittance services. This service will allow customers to send or receive cross-border transactions 7 days a week, 24 hours a day, while reducing transaction costs. The bank's new stablecoin service has been tested through Thailand's regulatory sandbox.