Central Bank Of Abu Dhabi And Ripple Launch Cross-Border Payings
The National Bank of Abu Dhabi (NBAD) informed it has integrated Ripple’s technology into its own system, according to Finextra.
Thus, NBAD is the first bank in the Middle, East and
"We hope to meet our clients' request and to promote more productive services using blockchain. Dealing with such technologies - we are going towards our clients ",
- told Vineet Varma, NBAD’s managing director.
In January, the third largest commercial bank in India, Axis Bank, announced it would apply Ripple' distributed ledger tech for international settlement.
"Financial institutions, their clients have heard a lot about features that offer blockchain for international settlement in real time. Currently, NBAD and Ripple translate it into reality, proposing payings to its customers, "
- noted CEO of Ripple Brad Garlinghaus.
In 2016, Ripple informed about the formation of the "first Interbank Group on cross-border settlement, based on the distributed financial tech". There are different banks and organizations among its participants.