2019-4-28 03:30 |
Ripple and its partnerships have made headlines all across the cryptocurrency space as being the pioneer in changing the system of cross-border payments. One of the main tie-ups of the Brad Garlinghouse-led company was with Japanese banking conglomerate, SBI Holdings, which has evolved into several subsidiary partnerships.
In the latest SBI shareholders meeting, SBI CEO Yoshitaka Kitao spoke about the impact that Ripple has had on the economic system as well as the negative side of the world of digital assets. Kitao stated that Ripple has been actively aiming to work with Arab countries and other regions in the MENA and not just in hotspots like the United States or Europe.
The SBI CEO’s words came in the wake of the latest Ripple Regionals: MENA, where representatives of the company as well as others in the banking ecosystem came together to discuss the future of money and the integration of cross-border transactions based on blockchain technology. The MENA meeting also resulted in Ripple’s partnership with the Saudi British Bank, enabling international instant remittance services to India.
Ripple’s Managing Director for South East Asia and MENA, Navin 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.”
The remittance corridor will leverage Ripple’s blockchain technology to enable Saudi Arabian customers to conduct transactions to India in an instant. This was made keeping in mind the vast Indian diaspora present in Saudi Arabia and other Middle Eastern countries. The bank’s official Twitter handle had added:
“SABB signs a partnership agreement with Ripple Digital remittance technology to launch the international instant Remittance service with Blockchain technology…”
Yoshitaka Kitao was also in the news recently when the SBI official joined the Ripple Board of Directors. The addition was revealed by Ripple co-founder Chris Larsen, who stated that the influence of Yoshitaka Kitao would boost Ripple’s customers in the Asia-Pacific region as well as deepen the understanding of the Asian economic system.
The post SBI CEO Yoshitaka Kitao claims Ripple’s work with XRP in the Middle East region is a success appeared first on AMBCrypto.
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