- partners with Oman’s second-largest bank, Bank Dhofar.
- Bank Dhofar will collaborate with IndusInd Bank, a well-known bank in India.
- Customers can rapidly transfer up to OMR 1,000 ($2,600) using Bank Dhofar’s app.
On Wednesday, Ripple announced its partnership with Bank Dhofar, the second-largest bank in Oman, to allow cross-border payments in India. According to Ripple, the partnership will use RippleNet to collaborate with IndusInd Bank, a well-known bank in India.
Notably, the agreement is expected to execute a swift and cost-efficient mobile payment using Bank Dhofar Mobile Banking App. Thus, it comes as such an exciting moment to many.
Moreover, Navin Gupta, Managing Director of South Asia and MENA said,
“People need to send money to loved ones overseas more than ever. Ripple is thrilled to collaborate with Bank Dhofar and IndusInd Bank to use blockchain technology to make cross-border transfers from Oman to India”
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