Home Cryptocurrency Bangladesh Based Bank Asia Integrates RippleNet For Financial Network Services

Bangladesh Based Bank Asia Integrates RippleNet For Financial Network Services

  • Asia Bank in Bangladesh has announced its adaptation of RippleNet for financial network services.
  • The LinkedIn profile of the Bank shows the integration of the institution’s system with Ripple’s cross border transaction named xCurrent.
  • The Bank Asia claims to have managed nearly 52 million Bangladeshi currency, over $609 million in USD.

Globally amidst the adaptation of cryptocurrency and blockchain technology, Asia Bank in Bangladesh has announced its adaptation of RippleNet for financial network services. This new partnership came into light when a twitter handle observed the Bank Asia logo on RippleNet documentation.

However, it is acclaimed that the partnership is over a month old, given the date stamp on the documentation. Bank Asia’s logo presided among other companies falling under the category of RippleNet Users alongside Santander, American Express, MoneyGram, Standard Chartered, SABB, and SBI group.

The LinkedIn profile of the Bank also shows the integration of the institution’s system with Ripple’s cross border transaction named xCurrent. The statement under the profile says that the Bank forms a network over multiple banks through RippleNet with a Blockchain-based network providing real-time remittance transfers.

According to Bank Asia’s website, it was founded in 1999, and has over 2,256 employees, near to 128 branches and close to 3,186 agent outlets. The Bank’s total money and assets are worth nearly 289 billion Bangladeshi currency (TAKAS), equivalent to over $3.4 billion recorded on the 31st of December 2017.

The Bank Asia also claims to have managed nearly 52 million Bangladeshi currency, over $609 million in USD.

As per the report by Cointelegraph yesterday, the National Bank of Egypt has also signed a cooperation agreement with Ripple to create new channels for inward remittances.

Previously in this month, Ripple also formed a new partnership with remittances firm International Money Express to integrate cross-border payments between the United States and Mexico region.

RippleNet is a series network of institutional payment providers supported on Blockchain of Ripple, which includes services such as money transactions, business services, and a nontime constraining transfer of money globally. RippleNet is developed based on Ripple’s ecosystem and has been widely used in many sectors.

Download our App for getting faster updates at your fingertips.

en badge web generic.b07819ff

Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic

We Recommend

Top Rated Trading Platforms

Top Rated Cryptocurrency Exchange

Partners

Must Read

Digital change is essential however we don’t uphold private cryptocurrencies- German Finance Minister

Germany's Finance Minister Olaf Scholz has referenced secretly given cryptocurrencies resources.The European Union (EU), including Germany, is quickening innovative work on the...

Utilizing blockchain to screen the COVID-19 vaccine supply chain

Blockchain offers a changeless, decentralized information base that can enable all gatherings to ensure that antibody supplies are being put away and...

Leaked Citibank details Reveals Bitcoin Could Rocket To $300,000 Price By End Of 2021

Bitcoin has detonated in the most recent couple of weeks, adding to increases through 2020 that is seen more than twofold in...

Airbnb plays blockchain popular expression bingo in $ 1B IPO documenting with SEC

Crypto firms are genuinely attempting to restore the gravely hit travel area utilizing conveyed record innovation. The record rolls out an elite of...

The Cryptocurrency Mining Equipment market is skyrocketing

Stratagem Market Insights added an overview of the Cryptocurrency Mining Equipment MarketThe insider report covers various aspectsDifferent methodology to study the competitive...

Bitcoin Cash Under Pressure Slips -0.95% After Split Into Two Blockchains While BCHA Emerges as Positive Performer

Bitcoin Cash builds the Symmetrical triangle pattern, on daily chart faced rejection from the resistance and bounces from the support line  The pair...

Related News

Digital change is essential however we don’t uphold private cryptocurrencies- German Finance Minister

Germany's Finance Minister Olaf Scholz has referenced secretly given cryptocurrencies resources.The European Union (EU), including Germany, is quickening innovative work on the...

Airbnb plays blockchain popular expression bingo in $ 1B IPO documenting with SEC

Crypto firms are genuinely attempting to restore the gravely hit travel area utilizing conveyed record innovation. The record rolls out an elite of...

The Cryptocurrency Mining Equipment market is skyrocketing

Stratagem Market Insights added an overview of the Cryptocurrency Mining Equipment MarketThe insider report covers various aspectsDifferent methodology to study the competitive...

Brazilian Indigenous Tribes Neglected by the Government

Jair Bolsonaro, The President of Brazil, is known for looking down on its indigenous people. He is racist and discriminative towards themHe...

ZebPay to Dispatch India’s non-fungible Crypto Token and Commercial Center

A non-fungible token (NFT) is a cryptographic symbolic that speaks to something exceptional and has singular qualities that set them apart. The distinction...