SCB rolled out a convenient and inexpensive stablecoin wallet that is sure to appeal to tourists in Thailand.
Thai fintech SCB 10X has launched a wallet to enable the use of US dollar- and Thai baht-pegged stablecoins. The Rubie Wallet is being trialed by foreign visitors at the Devcon event in Bangkok while it is still part of the Bank of Thailand (BOT) and Thai Securities and Exchange Commission regulatory sandbox.
The Rubie Wallet features a scan-to-pay closed QR loop that is being accepted by around 100 local merchants from Nov. 5 to Nov. 25. Users must undergo Know Your Customer verification to participate.
The wallet is being supported by Thailand’s SCB Bank (Siam Commercial Bank), which, like SCB 10X, is part of the SCB Group and converts US dollar stablecoin to bahts in real time at the regulated exchange rate.
