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Ripple to partner with Qatar National Bank

Ripple to partner with Qatar National Bank

Ripple has partnered with the major financial institution in Qatar to launch a new remittance service for it.

Ripple joins forces with QNB

The National Bank of Qatar is the largest banking institution in Africa and the MENA region. It is now partnering with Ripple as it plans to implement a global strategy for enhancing transnational payments. It aims to launch a new remittance platform built on Ripple technology.

Both parties have signed an agreement stating that QNB will test RippleNet with QNB Finansbank in Turkey. After that, a group rollout will take place to provide near real-time remittance and payment services for QNB customers in numerous countries. Later, it will add the Ripple technology to other remittance services.

Offering the best innovation

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

According to the director of South Asia and MENA regions, Navin Gupta, this partnership represents an opportunity for Ripple to expand innovation in the banking sector. Thus, it can improve transnational transfers for users worldwide. QNB operates in more than 30 countries on three continents through its network of subsidiaries.

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