Ripple Helps RAKBANK to Expand RAKMoney Transfer with RippleNet


RAKBANK announced the expansion of RAKMoney Transfer (RMT) services using Ripple blockchain technology RippleNet. The new service will be used along the Bangladeshi corridor by partnering with Bank of Asia.

Ripple Labs is living up to its promise of reducing the sale of XRP to focus on utility and its product-market expansion in 2020 and beyond. It was confirmed after RAKBANK announced that it will be leveraging RippleNet blockchain technology in an instant remittance solution to Bangladesh for free to all customers until June 30th.

Ripple has been at the forefront to oversee the world move towards instant cross border payments, with reduced friction. Recently, it was named the only blockchain company in the ISO 20022 standard body, and also the first member focused on Distributed Ledger Technology (DLT).

RippleNet promises its users to ensure access to new markets and the ability to deliver the best customer experience in global payments. It is reported that the network has over 300…

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