Blockchain payments company Ripple has partnered with Qatar National Bank (QNB) to improve cross-border payments and launch a new remittance platform, Ripple announced on Tuesday.
- QNB will pilot RippleNet, a network of banks and other payment companies developed using Ripple’s technology, with QNB Finansbank in Turkey as part of a group rollout, the statement said. There are plans to expand Ripple’s solution to other significant remittance corners in the future, according to the agreement signed by both parties. QNB is the largest financial institution in the Middle East and Africa with affiliate companies operating in over 30 countries.
- QNB will leverage RippleNet to improve cross-border payments efficiency and expand its remittance business across other countries. The partnership will enable near real-time payments to QNB clients, statement noted.
