Qatar National Bank established a partnership with Ripple firm to bring the cross border transactions more better and faster with the RippleNet technology.
In the present time, almost all the financial institutions are revolving around blockchain adoption to bring revolution in the remittances services for their customers to ensure the ability and potential of their operations. Ripple firms helps such financial institutions to bring advancement in their operations.
In the latest, Qatar National Bank ( QNB group) established a partnership with the giant payment firm Ripple. Under the terms of partnership, both of these big companies will support each other through their platform.
QNB group will use RippleNet’s blockchain technology to implement the blockchain integrated system in the QNB’s remittances services across its subsidiaries and partners payment institutions to make the payments system faster and more convenient.
QNB group is itself a big financial banking institution in Africa and the Middle East. And this is right now operating its payment services across the 30 countries. So we can understand that at what level, Ripple will provide its services.
Ripple contribution in Traditional Financial infrastructure
If we look toward the support of Ripple firms to bring the use and adoption of the blockchain technology, then Ripple is top among all crypto platforms.
Ripple has a very big network in the world, which is supporting many banking financial institutions and services to bring the payment services faster and better with high security.
Recently, Ripple established a partnership with Bhutan, to help them to facilitate the local Financial institutions payment system better.