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​Qatar National Bank has announced cooperation with Ripple

06.10.2021 - 14:35 Tatiana Darda Tatiana Darda

This partnership will allow payments to be made in real time, reducing transaction delays.

What's new? Qatar National Bank (QNB) is launching a money transfer service in partnership with the Ripple blockchain-based payment system to improve cross-border payments and reduce transaction delays.

QNB Press Release

What do the bank's top managers say? Speaking about the partnership, Heba Al Tamimi, general manager group retail banking at QNB said:

“QNB always innovate to provide the best of service to its customers and this partnership is yet another Fintech initiative of the bank to enhance the product offerings for our customers.”

Why Ripple? Many leading financial institutions are discovering the potential of blockchain technology to provide a higher level of customer service. Ripple positions itself as one of the most forward-looking blockchain-based payment systems. It helps financial institutions and central banks achieve their cross-border payment goals paying particular attention to sustainable development.

What do Ripple's top managers say? Navin Gupta, Managing Director, South Asia & MENA at Ripple stated:

“We are excited to be a strategic partner with Qatar National Bank (QNB), bringing together innovations in banking and Fintech to enhance the cross-border payments experience, and ultimately scale QNB’s remittance service on RippleNet into additional markets.”

Who else has Ripple collaborated with? The platform provides its corporate solutions to a variety of national and international banks. As aforementioned, the company has entered into a partnership with the Central Bank of Bhutan the Royal Monetary Authority (RMA), to launch a digital ngultrum.