Ripple distributed ledger giant has teamed up with QNB, Qatar National Bank, to launch a new remittance service for it.
The national bank of Qatar is 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 that states 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.