Ripple Tech to Power New Malaysia-Bangladesh Remittance Corridor
Malaysia's Mobile Money and Bangladesh's bKash will leverage RippleNet for wallet-to-wallet transactions.
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The new cross-border remittance corridor will be hosted on the Stellar blockchain and serve around 600 million customers. Cross-border remittance currently stands as one of crypto’s best use cases that will thrust it into mainstream finance. Running parallel to this trend, a new partnership between Velo Labs and two financial institutions has now resulted in a $17-billion remittance corridor between Europe and Thailand. Using Velo Labs’ blockchain-based financial protocol, local financial institutions Tempo Payments and Bitazza will host the cross-border remittance service, connecting....
The National Bank of Abu Dhabi has introduced real-time cross-border payments on a blockchain by integrating technology from industry firm Ripple. The offering will immediately benefit customers in the Asia-Middle East remittance corridor. Announced today, the NBAD laid claim to be the first bank in the Middle East and North Africa (MENA) region to go live with blockchain technology for real-time remittance. The new feature will facilitate its entire regional customer base with efficient, instant cross-border payments. In statements, Vineet Varma, NBAD managing director and chief for....
It makes sense for both companies to venture into the Malaysian market, as there are plenty of opportunities to explore. Malaysia seems to be warming up to the concept of Bitcoin and Fintech as of late. Thanks to a new partnership between Bitspark and Vitaxel Group, Bitcoin remittance will be coming to the Malaysian market very soon. Most people active in the world of Bitcoin and cryptocurrency will have heard the name Bitspark before. The company has been making a name for itself in the remittance sector by leveraging Bitcoin and blockchain technology. Moreover, they were the world’s....
Bitspark enables money transfer businesses to send and receive money faster, cheaper, and more securely to more than 100,000-plus destinations worldwide. The two companies seek to pursue the opportunities in financial services in Malaysia and other emerging Asian markets as mobile banking brings opportunities to reduce costs in cross-border trade. The companies will soon roll out blockchain remittance in addition to other value-added services. The companies will soon roll out blockchain remittance in addition to other value-added services. Bitspark CEO, George Harrap, said: I think this....
Asian countries and companies are warming up to the concept of Bitcoin as of late. Various exchanges are quickly gaining market traction. Coinplug, Korbit, and Coincheck are just a few of the examples. If anyone needed more validation of Bitcoin being useful in the remittance sector, look no further. A new post on Quartz goes to show a lot of money is flowing through Bitcoin right now. KakaoTalk, a company with 93% market penetration in South Korea, invested in SCI not too long ago. Some people assumed this was an odd decision, but so far, things are working out quite well. When KakaoTalk....