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Ripple Expands Its Remittance Technology to Philippines via QNB in First-of-Its-Kind Move

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Taking a historic step, Ripple partner QNB launched a direct money transfer service from Qatar to the Philippines. This makes it the first bank in Qatar to introduce this service.

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Using Ripple’s “RippleNet” financial technology, QNB will connect with China Bank, one of the leading private universal banks in the Philippines, to provide this service.

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The new service is designed to offer the bank’s customers a simple money transfer process, as well as the possibility of fast and expanded cross-border money transfers. The service, which primarily caters to Filipinos living in Qatar, will allow them to send funds up to PHP50,000 instantly to any bank in the Philippines.

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Naveen GuptaRipple’s Managing Director for South Asia and the Middle East and North Africa, said: “QNB is our largest partner in the Middle East and North Africa region, and we are excited to continuously strengthen this partnership on RippleNet with new countries. The Philippines is one of the largest recipients of remittances in the world and we are pleased to connect QNB with China Bank to process remittances from Qatar to the Philippines via Ripple Net.”

XRP sets important milestones

As noted Saint and as reported by Cryptooshala, XRP reached some important milestones last week.

Over the weekend, the analytics firm said: “XRP has been outperforming the #altcoin package lately and some important milestones have been reached over the last week. change of address this week.

In a recent update shared by defense attorney James K. Phelan for the Ripple lawsuit, “The court has issued an order setting a July 28, 2022 deadline by which any non-parties must proceed to seal portions of Dobert’s motions or waive objections.” against the Final Judgment of the Court on Applications by the Parties to Close the Seal.”

In addition, the SEC’s motion to file a 30-page opening statement was denied (limited to 20 pages), but his request for a 10-page response was granted due to the SEC’s objection to Judge Netburn’s decision regarding the documents of Hinman’s speech. .

In connection with the “Dobert proposals” that were submitted on July 12 by Ripple and SEC defendants, the SEC also filed a motion to close.





Credit : u.today

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