Ripple Network joined by Another Financial Institution seeking its Instant Payment System
Ripple opens doors and welcomes its newest partnership and that with the first bank for Oman that is working towards blockchain solutions utilization – BankDhofar. The news were made public just recently [Tuesday] with Dr. Tariq Taha – BankDhofar’s Chief of Information adding that:
“the first bank in Oman to join and access more than 100 of its member banks and other financial institutions utilizing Blockchain for instant payments”.
The development comes around a year after BankDhofar’s move to join ‘the leading Blockchain consortium BankChain’ in respect with the bank’s objectives towards enabling customer satisfaction and improving overall efficiency especially for customers that regularly send remittances overseas.
One of the reasons that the bank was bullish to go for the collaboration is that they believe that more transparent and friction-less transfers are going to be made.
The list of connections that Ripple has made is growing constantly creating a strong foot-stand for its platform to develop evenly too. Accordingly, five partnerships have been announced in Asia and Europe that will find use of Ripple’s xVia product to power payments being supported on its blockchain network – RippleNet. RationalFX (U.K.), Exchange4Free (U.K.), FairFX (U.K.), UniPAY (Georgia) and MoneyMatch (Malaysia) have decided to group up with Ripple.
Ripple has been on the minds of many cryptocurrency HODLers for quite some time. This past week has seen the coin oscillate in the markets between the values of $0.80 and $0.927. This week has to be the week that XRP touches $1 even if it will be for a brief period of time