SBI subsidiary cooperates with Bank of Vietnam TPBank to establish RippleNet-based transfer service

SBI Ripple Asia and SBI Remit, a subsidiary of SBI Financial Technologies, use blockchain technology to initiate a transfer service between Japan and Vietnam. The two Japanese companies announced on Friday that they will work with the local bank of Vietnam, Tien Phong Commercial Joint Stock Bank (TPBank), to transfer funds in fiat currency. It is reported that SBI Remit has already used MoneyGram's services to transfer funds within its cooperative banking network. This cooperation with TPBank will use RippleNet.