Ripple [XRP] partner Bank of Dhofar completes International transaction to India in real-time - Koinalert
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Ripple [XRP] partner Bank of Dhofar completes International transaction to India in real-time

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Ripple [XRP] partner Bank of Dohfar completes International transaction to India in real-time

As per the tweet from Navin Gupta, Bank of Dhofar is now live on RippleNet. He is the Managing Director, South Asia, and MENA at Ripple. As per the tweet “Congratulations! to Bank Dhofar – Live on Ripplenet. Now Non Resident Indians (NRI’s) living in Oman can App money back home in real-time. #bankdhofar #ripplenet @Ripple”

Bank of Dhofar is the first bank in the Sultanate and one of the first in the region to provide International instant transfer trough Mobile Banking. It has adopted Ripple’s global enterprise blockchain network i.e. RippleNet.

Now with the help of BankDhofar mobile banking app, Non-Resident Indians can now be able to send money back to India within minutes. As per BankDhofar, the first international transaction to India was successfully performed in less than 2 minutes.

BankDhofar joins more than 100 financial institutions including banks and payments providers using Ripple’s blockchain technology to provide a global payments experience that delivers instant, certain, low-cost cross-border payments to their customers.

BankDhofar last year joined the leading Blockchain consortium BankChain, being the first bank in Oman to join BankChain. going live with Ripple’s global enterprise blockchain network -RippleNet enables BankDhofar to improve its customer’s satisfaction through maximizing operations efficiency, security, and transparency.

Ripple’s leading Blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables BankDohfar to save customers time when sending payments overseas, using BankDhofar Mobile banking App.


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.

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