QNB, Ripple partner to enhance cross-border payments

Doha: QNB, the largest financial institution in the Middle East and Africa, unveiled its global strategy for cross-border payments with the launch of a remittance service developed in partnership with Ripple, the leading provider of enterprise blockchain solutions. 

According to the agreement both sides signed, QNB will initially pilot Ripple’s global financial network technology, RippleNet, with QNB Finansbank in Turkey as part of a group roll out, with plans to expand to other key remittance corridors in the future.      

Through RippleNet, QNB aims to improve cross-border payments and expand its remittance service across multiple countries in a quick succession. This partnership will deliver near real-time payments, to provide a unique and differentiated experience for QNB’s customers.