Commercial bank giant QNB announces cooperation with Ripple

QNB Group, one of the largest banks in the Middle East and Africa region, has collaborated with Ripple to serve more than 20 million customers around the world using blockchain technology.

QNB has signed an agreement with crypto payment company Ripple, according to the official October announcement. As the industry leader in enterprise blockchain solutions, Ripple will help QNB improve international payments and grow its payment services in many countries.

Within the scope of the agreement, of which QNB Finansbank is also a part, QNB will test Ripple’s global financial network technology, RippleNet. The giant bank aims to allow almost real-time payments with RippleNet and offer its customers a different and unique experience.

Heba Al Tamimi, General Manager of QNB Retail Banking Group, made the following statement on the matter:

“QNB constantly innovates to provide the best service to its customers, and this partnership is one of the financial technology initiatives that the bank has launched to improve the products it offers to its customers.”

Navin Gupta, General Manager of Ripple South Asia and MENA, commented on the new collaboration:

“We are excited to be QNB’s strategic partner and unite financial technology and banking innovations to enhance the international payment experience and ultimately bring QNB’s payment services to other markets on RippleNet.”

In the announcement, QNB announced that it plans to expand cooperation with Ripple in the future and also develop other key payment channels.

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