The Largest Bank In Africa And The Middle East Joins Ripple Ne | CCAI

The Largest Bank In Africa And The Middle East Joins Ripple Network For Cross-Border Payments

QNB Group or the Qatar National Bank is to harness Ripple’s blockchain technology to process real-time global cross-border payments.

Ripple Signs Deal With QNB GroupRipple has inked a new partnership. Under the terms of the deal, QNB will adopt RippleNet, which Ripple touts as an instantaneous settlement solution. In joining RippleNet, the two companies will be able to launch a new remittance corridor.

As a start, the Doha, Qatar-based financial institution, the largest in Africa and the Middle East, will pilot RippleNet — Ripple’s DLT-based payments network — with QNB Finansbank in Turkey. The second phase of the project will entail extending the new RippleNet-powered blockchain platform to the bank’s clients in multiple countries. Worth mentioning that QNB is currently operating in at least 31 countries across three continents in the world through its subsidiaries.