bKash currently serves more than 45 million users
RippleNet has announced its partnership with Mobile Money, a Malaysian mobile wallet company. Through RippleNet, Ripple’s global payments network, Mobile Money has connected to bKash, Bangladesh’s largest provider of mobile financial services.
Their partnership is expected to power seamless wallet-to-wallet payments to serve the remittance corridor between Malaysia and Bangladesh.
bKash and MobileMoney will gain access to a wide range of RippleNet’s features, including wallet-to-wallet transactions. Mutual Trust Bank will work as the local banking partner in Bangladesh.
According to data, Bangladesh has the third-largest remittance flows in South Asia and the 11th largest worldwide, with Malaysia ranking as one of the top 5 sources of remittances for Bangladesh.
Through this partnership, Mobile Money is also anticipating growth in its user base of Bangladeshi workers by 20% as it enables them to better serve their user base.
We’ve reported that Coinbase has made the decision to suspend the XRP trading pairs on its platform. Trading will be fully suspended on Tuesday, January 19, 2021, at 10 a.m. Pacific Standard Time.