Mazda3 Posted November 1, 2018 #1 Posted November 1, 2018 Ripple continues to expand its network. Soon the company will begin to provide services for the implementation of cheap, fast and private international money transfers in one of the centers of world commerce - Dubai. New Ripple Partners In his speech at a conference in Dubai, Dilip Rao, Head of Infrastructure Innovation Company, spoke about Ripple plans to expand to the Middle East. The company will open its representative office in the capital of the Emirates by the end of this year, with about 200 various financial companies already signed cooperation agreements with it. Among the new partners of Ripple is for example Al-Rajihi, the largest Islamic bank in Saudi Arabia. Ripple Plans Rao also stated in his speech that Ripple will henceforth work not only to improve the already existing international payment system, but also create products for ordinary businesses around the world. He noted that the Emirates needed Ripple, since the methods of transferring money to other countries that exist there, according to the assurances of many respondents, are expensive and slow. He also cited the example of the south of Asia, where many companies abandoned SWIFT, but adopted the remittance technology, which is preferable to local customers. According to him, labor migrants experience the most difficulties with remittances abroad, who sometimes have to pay commissions ranging from 5% to 10% of the amount transferred. Ripple was designed to solve this particular problem, and along the way also build a base for the digital economy, he concluded. Do you think this will lead to a rise in Ripple? A source:https://bitcoinexchangeguide.com/ripple-executive-reveals-plans-for-dubai-office-expansion-believes-xrp-will-solve-liquidity-problem/
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