Case Study: SBI Remit achieves instant Japan–Thailand remittances with Ripple

SBI Remit teams up with Ripple to power instant remittances between Japan and Thailand

SBI Remit, the largest money transfer provider in Japan (10+B monthly cumulative JPY volume; ~90% of customers are foreigners), wanted to become the best payment service for foreigners living in Japan by making cross-border transfers faster and cheaper. To achieve this, SBI Remit partnered with Ripple and adopted Ripple’s enterprise blockchain solution, RippleNet.

Using RippleNet, SBI Remit and Siam Commercial Bank rolled out instant JPY-to-THB remittances—implemented in 3 months with settlement in about 3 seconds—enabling some 47,000 Thai nationals in Japan to send money home from ATMs directly to SCB savings accounts and receive THB instantly instead of collecting cash via agents. The Ripple-powered service cut transfer time dramatically, improved customer experience, and opened new revenue potential for SBI Remit.

SBI Remit

Nobuo Ando

Representative Director