SCB 10X Rolls Out Rubie Wallet with Thai Baht, USD Stablecoins

SCB 10X has launched the Rubie Wallet, aiming to revolutionize payments with Thai baht and USD-pegged stablecoins. The wallet is currently being trialed at the Devcon event in Bangkok. 

With strong backing from SCB Bank, Fireblocks, and Circle, this wallet could change the way people pay in Thailand. Digital currencies are moving quickly, and this launch could play a big part in their future.

A Simple, Fast Payment Solution

The Rubie Wallet allows users to pay using a simple scan-to-pay QR code. From Nov. 5 to Nov. 25, around 100 merchants in Bangkok are accepting payments through this system. 

To use the wallet, users must pass Know Your Customer (KYC) verification. SCB Bank ensures the USD stablecoin converts to baht in real-time, based on regulated exchange rates. Fireblocks powers the wallet’s technology with its wallet-as-a-service platform, running on the Base blockchain. 

SCB 10X's Growing Role in Crypto

Circle’s USD Circle stablecoin makes the wallet's currency stable and reliable. Elliptic’s monitoring tools add an extra layer of security, making transactions safer.

The Rubie Wallet is SCB 10X’s second major project in the world of crypto. In October, SCB announced stablecoin services for cross-border payments. This project also emerged from the Bank of Thailand’s regulatory sandbox. 

SCB 10X has made its mark in the crypto space with investments in companies like Anchorage, Fireblocks, Talos, and M^0. The wallet brings new opportunities for secure, stablecoin-based transactions in Thailand and beyond.