The TPBank’s CEO did not clearly reveal the financial wire transfers on blockchain.

He claimed that such adoption of RippleNet will give the company a higher boost differentiating it from its competitors.

RippleNet is not only confined to Vietnam but has penetrated its branches in other parts of Asia too.

SBI, RippleNet’s new member announced officially about the Japan – Vietnam remittance service with one of the most significant banks in Vietnam the TPBank.

Nguyen Hung, the TPBank’s CEO did not clearly reveal regarding the financial wire transfers on blockchain. But now, the remittance service and of course the transactions by the unification of Vietnam and Japan backed by RippleNet is formally confirmed.

In accordance with an official tweet by XRP Research Center recently on 15 November SBI

“Ripple Asia, SBI Remit and TP Bank in Vietnam announced the start of

the first Japan Vietnam remittance service using

#RippleNet.”

it also added

” We will develop remittance services that incorporate crypto in the future”

One of the representatives of the SBI Group had said that the Vietnamese economy is among the “most attractive markets” of the world and is “booming”. This was to emphasize the profitable collaboration with one of the most emerging economies on the global platform.

He added that

“TP Bank, which SBI Group has invested in, in 2009 and owns 19.9 % share of, has achieved steady accumulation of loans and non-interest income such as settlement services, by actively utilizing cutting edge technologies.”

He claimed that such adoption of RippleNet will give the company a higher boost differentiating it from its competitors.

He also assured that the world make attempts to fuel the crypto assets in future by the remittance services

“We will develop remittance services that incorporate crypto assets in the future”

RippleNet is not only confined to Vietnam but has penetrated its branches in other parts of Asia too. Earlier one of its payment companies Nium had unified with Visa Direct for easy flow of transactions with Indonesia. Bank of Indonesia had also granted the license to the company earlier.