2018-9-14 16:30 |
Thursday 13th September 2018 was when Ripple announced on their website that NCB (National Commercial Bank) of the Kingdom Saudi Arabia (KSA) has become the latest enterprise customer and joined up with RippleNet and Ripple’s fast growing network of payment providers, virtual asset exchanges, banks etc.
For Ripple, this is huge as KSA is massive player in the remittance space, with the World Banks remittances data “showing that 308 million dollars were sent into the KSA, and 37 billion dollars in remittances were sent from the country in 2016. ”
The reason for this huge amount of money flowing out of the country is that it is one of the biggest labor markets around the globe with an estimated amount of 11 million foreign workers form all over the world.
Continue reading NCB Joins RippleNet at Crypto Daily™.
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