National Bank of Fujairah PJSC (NBF) recently announced its partnership with blockchain company Ripple. According to the official announcement, the bank will use its RippleNet technology to enhance its cross-border money transfers.
According to the bank, this partnership is an initiative to apply the latest technologies to the bank’s operations. As per the bank, it will use RippleNet to provide services to its large Indian customer base. Remittances to India will be provided through Indus Ind Bank.
Vince Cook, NBF’s CEO, said: “In a fast-moving environment, banks have to act with agility and constantly look for new and improved ways to service their clients.”
“We will always look for the next best thing for our customers as part of our commitment of being the best financial partner for their business and personal needs.”
NBF is a full-service corporate bank in the United Arab Emirates (UAE) that offers Shari’a compliant services. It has a branch network of 18 across the UAE.
Last year Ripple also partnered MoneyGram International Inc. which is one of the world largest money transfer company.
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