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Ripple has scored another goal in the payments remittance world, with another bank announcing the use of Ripple tech within its cross border payment systems.
Navi Gupta Managing Director, Ripple South Asia, recently tweeted that the Bank of Dohfar was officially live on Ripplenet.
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 pic.twitter.com/HBbSGh6tQD
— Navin Gupta (@navinblockchain) February 17, 2019
The partnership was first initiated back at the start 2018, and through numerous tests, trials, and tribulations, has finally ushered this end result.
The Bank of Dohfar, boasts the first large institution within Oman and surrounding regions to use Ripple tech. providing instantaneous transfers through its mobile banking system.
Utilized within the Bank’s mobile banking app, Ripple’s blockchain allows the transfer of money to from non-resident Indians (NRI) living in Oman to Indian residents within the country in minutes.
The Bank released a statement on the collaboration with ripple:
“Ripple’s leading blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables Bank of Dhofar to save customers’ time when sending payments overseas, using BankDhofar mobile banking app.”
The community responded to this latest news with exaltation:
Congratulations to you, Ripple, Oman and the region. While India has taken a cautious approach to blockchain and crypto, no doubt seeing this kind of tangible and positive impact directly on its citizens at home and abroad will help them feel more comfortable adopting.
— ecent (@EDadoun) February 17, 2019
Congratulations @BankDhofar ! Is it correct you joined Ripplenet last may 2018 and will you be using XRP for these remittance payments?
— ❗PHdJ ✏ (@PHdJdoesTweets) February 17, 2019
Super. Excellent. 👍🤝👏
— El Novato! (@elnovato408) February 17, 2019
This latest bullish instalment, comes just as some within the crypto community start to doubt Ripples relevance in the wake of the recently announced JPM Coin; a bank created digital asset which effectively looks to do Ripple’s job for them.
It seems Ripple still has a few tricks up its sleeve
Read more: What does JPM Coin mean for Ripple and the wider crypto industry?; "The JP Morgan coin should obliterate Ripple", says Bloomberg editor