Ripple to attract 10M users through new partnership

bKash currently serves more than 45 million users

Ripple

Ripple to attract 10M users through new partnership. Source: shutterstock.com

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 are constantly exploring innovative ways to give simple solutions to our customers. bKash is happy to have partnered with Ripple in collaboration with Mutual Trust Bank of Bangladesh to deliver a cost-effective, fast, transparent, and reliable remittance sending experience to more than 10 million non-resident Bangladeshis all over the world. This partnership will bring great convenience to both the recipients and senders, and contribute further to our national economy by encouraging inward foreign remittance flow through legal channels
Kamal Quadir, CEO of bKash

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.

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