QNB plans to launch a remittance platform based on Ripple blockchain technology
Distributed ledger giant Ripple has teamed up with QNB, Qatar National Bank, to launch a new remittance service for it.
QNB and Ripple partner to boost global cross-border payments. I did some digging and there’s more to this story. Upload the video when I find the time. https://t.co/gbbWgCzqGy pic.twitter.com/XxURMQjEHO
– Leonidas (LeoHadjiloizou) October 5, 2021
Ripple joins QNB
Qatar National Bank is the largest banking institution in Africa and the Middle East and North Africa region. It has now started collaborating with the San Francisco fintech provider Ripple as it plans to implement a global strategy to boost transnational payments and launch a new remittance platform built on the basis of Ripple technology.
The two sides signed an agreement stating that QNB will prosecute RippleNet with QNB Finansbank in Turkey. Subsequently, a suite to provide near-real-time remittances and payments to QNB customers in several countries will be launched and Ripple’s technology will be added to other remittance channels at a later time.
According to Heba Al-Tamimi of QNB, Group Head of Retail Banking, the bank always strives to provide the best innovation to its customers, and the deal with Ripple is another innovative step that QNB is taking to provide the best products to its customers.
For Ripple, according to Navin Gupta, managing director for South Asia, Middle East and North Africa, this partnership is an opportunity to expand innovation in banking and improve transnational transfers for users globally.
QNB operates in more than 30 countries on three continents through its network of subsidiaries.