Ripple is making progress in extending its services across the world and according to recent reports, Ripple is bridging the gap between India and Saudi Arabia with a new, fast, and cost-effective remittance corridor with Saudi British Bank [SABB].

Ripple’s Managing Director for South East Asia and MENA, Navin Gupta, made the announcement through his Twitter handle. Gupta tweeted,

“Launch of SABB’s remittance corridor to India at FSC 2019 by Majed Najm. Customers can enjoy the benefit of Ripple’s blockchain tech delivering transparent and real time payments from KSA to India.”

This new remittance corridor was unveiled at the Forest Stewardship Council, 2019, and was launched by HSBC Saudi Arabia’s CEO, Majeb Najm. The remittance corridor that leverages Ripple’s Blockchain tech was introduced to enable customers in Saudi Arabia to transact with transparency and transfer funds to India in real-time. Indians constitute the second largest demographic in Saudi Arabia and this new initiative by SABB will help Indian nationals send money home.

SABB joined hands with RippleNet in 2019 over one of Saudi central bank’s pilot program, however, no official partnership announcement was made earlier. The recent announcement establishes a firm partnership between the two firms and puts Ripple on the map again, with a new country now using its services.

SABB’s official Twitter handle also announced this news,

“SABB signs a partnership agreement with Ripple Digital remittance technology to launch the international instant Remittance service with Blockchain technology…”

The post Ripple partners with Saudi British Bank to launch international instant remittance service to India appeared first on AMBCrypto.

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