Egypt’s largest bank tries crypto with Ripple

After Nasdaq-listed remittance firm International Money Express, London-based fintech firm Finastra and remittance firm MoneyGram, the National Bank of Egypt (NBE), the country’s biggest bank by total assets, has joined Ripple’s blockchain-based payments network RippleNet. IT now claims to be the first bank in Egypt to use blockchain technology.

Egypt is one of the top five remittance recipient countries, according to figures from the World Bank. Migrants sent $29 billion worth of funds in 2018 alone to the Middle East country.

Ripple recently said that it has crossed 300 customers and has seen 10x year-over-year growth in transactions on RippleNet.

Tag Post :
Share This :
Share on facebook
Share on twitter
Share on linkedin
Share on google
Cult Today

Cult Today

CULT is a collective for NFT lovers. We are passionate NFT hoarders, we love minting our own collections and we are always on the lookout for collaborations. Most of our work can be found on StakeCube Marketplace

Read More

Leave a Reply

Your email address will not be published.

Fill out this field
Fill out this field
Please enter a valid email address.
You need to agree with the terms to proceed