Back to the list

Ripple Partners with Largest Financial Institution in Africa and Middle East


u.today 05 October 2021 10:20, UTC
Reading time: ~2 m

Ripple distributed ledge giant has teamed up with QNB - Qatar National Bank – to launch a new remittance service for it.

QNB and Ripple partner to enhance Global Cross-Border payments. Did some digging and there's more to this story. Video incoming when I find the time. https://t.co/gbbWgCzqGy pic.twitter.com/XxURMQjEHO

— Leonidas (@LeoHadjiloizou) October 5, 2021

Ripple joins forces with QNB

The national bank of Qatar in the biggest banking institution in Africa and the MENA region. It has now begun collaborating with Ripple fintech provider from San-Francisco as it plans to implement a global strategy for enhancing transnational payments and kick off a new remittance platform built on the basis of Ripple technology.

Both sides have signed an agreement, which says that QNB will trial RippleNet with QNB Finansbank in Turkey. After that, a group rollout will take place to provide near real-time remittances and payments for QNB clients in numerous countries and add Ripple technology to other remittance corridors later on.

According to QNB’s Heba Al Tamimi, head of the Group Retail Banking, the bank always strives to provide best innovation to its customers and the deal with Ripple is another innovative step QNB is taking to offer best products to its clients.

For Ripple, according to its Managing Director of South Asia and MENA, Navin Gupta, this partnership is a chance to expand innovations in the banking sphere and improve transnational remittances for users globally.

QNB operates in over 30 countries on three continents via its network of subsidiary companies.

Back to the list