Morocco’s Biggest Bank to Dive in Crypto by Joining RippleNet (Report)

The leading banking service operator in Morocco – Attijariwafa Bank – has reportedly joined RippleNet. The latter is an international cross-border payment network designed by the American blockchain company Ripple.

  • A local report revealed that Attijariwafa Bank had become a member of the RippleNet ecosystem. By joining the crypto world, the Moroccan financial institution has strengthened its position as an innovative banking leader in the North African region.
  • As a result, members of Attijariwafa Bank will be able to exchange transactions with each other from numerous destinations around the world. The Moroccan diaspora consists of nearly 5 million people, as over 1 million reside in France.
  • Adnane Driouech – Corporate Cash Management Manager at the bank – said his company has been seeking to enter the modern tech industry by launching several initiatives for more than a year. Joining RippleNet and thus touching the blockchain universe is another milestone for Attijariwafa Bank, he concluded:
  • “With RippleNet, we connect to the blockchain, another fast and foolproof way to receive funds.”

  • Attijariwafa Bank confirmed it also partnered with Thunes – a transfer aggregator and a member of the RippleNet network. The collaboration цould be particularly beneficial for the Moroccan population living in the United Kingdom and the Netherlands.
  • Several months ago, the blockchain project joined forces with another banking institution – The Royal Monetary Authority (Bhutan’s central bank). Their main goal was to launch a central bank digital currency in the Asian nation.
  • The Royal Monetary Authority expects to “enhance digital and cross-border payments and expand financial inclusion efforts” by 85% by next year by combining efforts with the US company.
  • Being the only carbon-negative nation globally, Bhutan is highly focused on green initiatives. As such, Ripple explained that the CBDC solution could be a match for its principles as it would be carbon-neutral.

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