FSC 2019, what an announcement we got! Navin Gupta announced live on stage SABB’s remittance corridor to India! Why is this so big? All the FUD we hear out there about India looking to ban crypto and blockchain. All that is in our opinion is noise. Ripple is deeply involved with India and we have covered multiple stories on this.
Customers can now enjoy the benefits of Ripple’s blockchain technology while delivering transparent and real-time payments from Saudi Arabi to India.
Launch of SABB’s remittance corridor to India at FSC 2019 by Majed Najm. Customers can enjoy the benefit of Ripple’s blockchain tech delivering transparent and real time payments from KSA to India. #Ripple #sabbbank #RippleNet #FSC2019 pic.twitter.com/IsWEjZpgoM
— Navin Gupta (@navinblockchain) April 25, 2019
So now we have a new corridor set up! And what has Bob Way told us: With very little effort these corridors can be connected. Companies like Mercury FX can now expand! So now Mexico and the Phillippines can now get connected to this corridor! RippleNet is growing right before our eyes. The internet of value is on the rise and most people do not even realize it. People hear this news and all they think or they ask – is this using Xrapid or is this using xrp. That will come, give it time. Let’s get all the rails in place first.
SABB is one of the five largest Saudi banks by total deposits. This new remittance corridor was unveiled at the Forest Stewardship Council and was launched by HSBC Saudi Arabia’s CEO Majeb Najm. The remittance corridor that leverages Ripple’s Blockchain tech was introduced to enable customers in Saudi Arabia to transact with transparency and transfer funds to India in real-time