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Ripple Partners with major UAE Bank for cross-border money transfers



Ripple XRP

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.

Ripple partners with major UAE 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.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.