While Ripple continued its partnership with international fintech players and crypto trading platforms, Omanian based BankDhofar has extending RippleNet support to its Mobile App as well. It’s quite important to note that BankDhofar is already a RippleNet customer since April 30, 2018.
Instant Cross Border Mobile Banking Transfer
BankDhofar is the second largest bank of Oman in terms of market value. The bank on February 17, 2019, took to Twitter stating that they hit ‘international Instant Transfer service via its mobile App’.
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
The news gets quick attention from the vast audience of Twitter, especially XRP enthusiasts. The announcement claims that BankDhofar is the first bank in the region to provide ‘international instant transfer through Mobile Banking. Moreover, it has also revealed that they have successfully tested ‘international transactions’ to India in less than 2 minutes. RippleNet is a product of Ripple Blockchain firm which helps bank process cross-border transaction within seconds meantime at less cost. Per the official Ripple’s announcement in early Jan this year, RippleNet surpassed 200 customers.
“Customers will be able to transfer money abroad instantly using BankDhofar Mobile banking App. Ripple’s leading Blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables BankDhofar to save customer’s time when sending payments overseas, using BankDhofar Mobile banking App”.
Additionally, BankDhofar is proudly the prime banking Sultanate to adopt RippleNet technology. Besides the bank, Navin Gupta, the managing director of ripple for South Asia and MENA also confirmed ‘non-resident Indians (NRIs) in Oman can avail the mobile service of BnakDhofar for money transfer in real-time.
— Navin Gupta (@navinblockchain) February 17, 2019
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