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Ripple is now teaming up together with QNB, Qatar National Bank. Additionally, this move is for the launch of a 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. — Leonidas (@LeoHadjiloizou) October 5, 2021
Ripple Teams Up With QNB
More so, The national bank of Qatar is the biggest banking institution in Africa and the MENA region. Meanwhile, the national bank is now in collaboration with Ripple fintech provider from San Francisco. This is to aid its plans to activate a global strategy to facilitate transnational payments. Of course, and also start a new remittance platform on the basis of Ripple technology.
Furthermore, Both parties goes on to sign an agreement stating that QNB will trial RippleNet with QNB Finansbank in Turkey. Consequently, a group rollout is set to happen, which will launch out a fast real remittances and payments for Qatar National Bank’s clients. QNB has clients in several countries as they will also add Ripple technology to other remittance passage later on.
Additionally, QNB’s Heba Al Tamimi, head of Group Retail Banking says the bank has plans to bring about the best innovation. Especially, for its wide customers base. Noting that this Ripple’s agreement is just another step forward to achieve QNB vision. Which of course, is to offer the best products to its clients.
Meanwhile, This agreement will bring more expansion for Ripple into the banking space. This is according to its managing director of South Asia and MENA, Navin Gupta. For instance, this will also improve transnational remittances for users globally.
Conclusively, QNB is currently operating in over 30 countries on three continents. All through its network of subsidiary companies.