- The partnership helps the banking giant in facilitating cross-border payments using Ripple’s blockchain technology.
- Ripple benefits from the partnership as it extends its reach across the globe steadily.
As per a tweet by Entrepreneur Middle East, a Dubai-based business magazine, the National Bank of Fujairah is now a part of the RippleNet. As per the magazine’s announcement, the UAE banking giant will now use Ripple’s blockchain technology to facilitate cross-border payments. This collaboration benefits both parties since this will enable Ripple to extend its global reach.
Earlier, the National Bank of Fujairah was reported to have become a member of the Marco Polo Network. Meanwhile, Ripple has gathered significant amounts of funding since its launch. It has partnered with over 100 banking firms, including more than 15 of the world’s top banks.
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