**News Flash: SCB 10X Launches Rubie Wallet for Stablecoins in Thailand**

Thai fintech firm SCB 10X has introduced the Rubie Wallet, designed for using US dollar- and Thai baht-pegged stablecoins. Currently in a trial phase at Bangkok's Devcon event, the wallet is part of the Bank of Thailand and Thai SEC's regulatory sandbox.

- **Features**: The Rubie Wallet offers a scan-to-pay QR system, accepted by 100 local merchants from Nov. 5-25. Users must complete Know Your Customer (KYC) verification.

- **Collaborations**: Supported by Siam Commercial Bank, the wallet converts US dollar stablecoins to bahts at regulated rates. Fireblocks, Circle, and Elliptic are key partners.

- **Innovation**: The baht-pegged stablecoin uses smart contracts, inspired by Singapore's Project Orchid. SCB 10X sees this as a step towards global financial inclusion and enhancing Thailand's digital asset ecosystem.