Despite all the troubles Ripple is enshrouded with, the giant crypto firm is still able to strike a significant partnership with Malaysian e-wallet company Mobile Money.
Ripple announced its partnership with Mobile Money on 13th January as a result of which it will be connected to Bkash, Ripple’s long-time partner in Bangladesh, through Ripplenet. With over 45 million users, Bkash is the largest company providing mobile financial services in the country and is also the pioneer of digital Bangladesh.
Ripple the bridge between Mobile Money and Bkash:
As far the remittances are concerned Bangladesh is the third-largest country in South Asia with over 18 billion dollars in remittances just last year.
And as it received a major chunk of remittances from Malaysia, there was a constant demand for a system that connects both countries. Ripplenet addressed this problem by bringing both Malaysia’s Mobile Money and Bangladesh’s Bkash on a single cohesive platform which will help both the parties to make smooth cheap and fast transactions across their borders.
Further, under the purview of Bangladesh Bank, the Mutual Trust Bank (MTB) will be their partner in the country to aid the friction-less transactions.
As Kamal Kader CEO of the Bkash stated:
”We are constantly exploring innovative ways to give simple solutions to our customers. bKash is happy to have partnered with Ripple in collaboration with Mutual Trust Bank of Bangladesh to deliver a cost-effective, fast, transparent, and reliable remittance sending experience to more than 10 million non-resident Bangladeshis all over the world. This partnership will bring great convenience to both the recipients and senders, and contribute further to our national economy by encouraging inward foreign remittance flow through legal channels.”
Addition of 10 million users to the Ripple platform
The most significant benefit Ripple as a company will avail through the partnership is the inclusion of 10 million users into their platform.
$33M Injected Into XRP Products Within One Week Boosting AUM Of the Sector Up
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
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...