Many crypto-focused companies are making new efforts to expand their operations across borders. Most recently, Ripple partner QNB has expanded its direct remittance service for money transfers from Qatar to the Philippines.
Ripple Brings Remittance Technology to the Philippines via QNB
Cryptocurrency industry continues to experience new developments every day. This time, there was a new development on the Ripple front. Ripple announced that it has made its direct remittance service available in the Philippines with its partner QNB.
This new service in question offers the bank’s customers an easy remittance process, as well as a fast and advanced cross-border money transfer option. In addition, this service offered in Qatar will allow them to send money instantly to any bank in the Philippines.
Proud to connect @QNBGroup,our biggest partner in MENA with China Bank in Philippines bringing Ripplenet's customer experience to Filipinos in Qatar. Supporting Qatar as it hosts @FIFAWorldCup 2022. @chinabankph @Ripple @QNAEnglish @QFA_EN https://t.co/hHNwpzYklC pic.twitter.com/0EN2f3jT6M
— Navin Gupta (@navinblockchain) July 25, 2022
Navin Gupta, General Manager of Ripple South Asia and MENA, said:
QNB is our largest partner in the MENA region and we are happy to continuously strengthen this partnership in RippleNet to additional countries. The Philippines is one of the largest remittance recipients. We are pleased to connect QNB with China Bank to process remittances from Qatar to the Philippines via Ripple Net.
Finally, let’s take a look at Ripple’s situation. According to CoinGecko data; At the time of writing the news, XRP is trading at $0.345942.
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