The latest tweet from Oman’s second-largest bank, Bank Dofhar reveals the launch of ‘mobile banking application’ on RippleNet. Consequent to the announcement, cross-border transactions can be possible via its mobile application.
Navin Gupta, Managing Director of Ripple for South Asia and MENA took to Twitter, stating that ‘the BankDhofar is live on RippleNet’. He says that;
“Congratulations! to Bank Dhofar – Live on Ripplenet. Now Non-Resident Indians (NRIs) living in Oman can App money back home in real-time.
According to the announcement, Bank of Dhofar is the first bank in the Sultanate and in the region to offer ‘international transfer via mobile application’. In fact, it has also revealed that they tested the system with India successfully and as such Non-Resident Indians(NRIs) can now transfer money to India in just two minutes.
We are Proud to be The #First Bank in The Sultanate and one of the first in the region to Provide International Instant Transfer through #BakDhofar_Mobile_Banking_Services App pic.twitter.com/4tJatbLH4y
— BankDhofar (@BankDhofar) February 14, 2019
BankDhofar mobile banking application helps customers save time as well as money. Back in April last year, Bank Dhofar has formed the partnership with Ripple to employ its banking product, RippleNet. Dr. Tariq Taha who is the chief information officer of BankDhofar state that;
“With this, we can provide instant, friction less and secure cross-border money transfers within seconds, with end-to-end visibility over the journey of the payment.”
Addressing how BankDhofar’s Ripple based mobile app is solving the existing issues of banks and other fintechs, the announcement notes;
“Ripple’s leading blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables Bank of Dhofar to save customers’ time when sending payments overseas, using BankDhofar mobile banking app.”
So what’s your stake on BankDhofar’s mobile application? Will it be a new revolution in mobile banking? share your opinion with us
How Is the XRP Lawsuit Going And How Investors Make More Money on the Recent Fluctuation of XRP Prices?
XRP Holders are Seeking intervention in the SEC’s Lawsuit Against Ripple
New Report Says Ripple Is A Potential Competitor To Indian Traditional Banking System
A Major US News Magazine is Now Accepting Crypto for Subscriptions
Ripple’s Partner SBI Offers Clients Bonus In XRP If They Participate In Company’s STO
Recent Press Release
The Best NFT & DeFi Project Token Sale, TimeCoin(TMCN)
The best opportunity to invest in TimeCoin(TMCN) to realize both capital and income gain. The Special Token Sale of TimeCoin...
Place 1xBit bet BTC and Win
cryptocurrency is very much valued in the modern world, because it allows fast and secure transactions in different parts of...
Hips Payment Group Launches Merchant Token (MTO), a Cryptocurrency That Will Bring Consumer Protection to Blockchain Payments
Solution supports decentralized finance (DeFi) trend with consumer protection via smart contracts. DUBLIN, Ireland (April 1, 2021) – HIPS Payment...
Best 5 Crypto Social Trading Platforms
Over the past few years, technology has brought about drastic changes in how people approach the subject of investment. As...
TimeCoin (TMCN) Special Token Sale is Live Join Now!
The Special Token Sale of TimeCoin (TMCN) was launched on February 15th, 2021, with a 93% discount on the token’s...