Ripple’s Partnership with Al Ahli Bank is Result of Wanting to “Reimagine a Simpler Bank” Says CTO


Ripple has been successful in earning itself a reputable name across the globe, especially through the numerous partnerships established with banks all over the place.

As previously reported by Bitcoin Exchange Guide, the alliance formed by Ali Ahli Bank of Kuwait (ABK) and Ripple will help the former better in their technological sense, while making cross-border payments instant.

In particular, Ripple’s technology is said to be integrated within the bank’s existing services and will supposedly serve as a foundation to the bank’s current infrastructure. In a recent AMBCrypto reporting, the ABK’s Chief Technology Officer, Salem Al Sarraf, and Chief Operating Officer, Somnath Menon, elaborated more on the partnership and what it means for customers.

During the Ripple Regionals at MENA, Al Sarraf expressed his viewpoint on the bank’s creation of mobile apps specifically for payment processing – noting that, “The only thing the customers will notice, it is fast.” Below is an interview depicting how Ripple’s technology is positively impacting products and services offered by ABK:

As per Menon, the partnership was a natural occurring – emphasizing that both RippleNet and ABK have common goals that can be achieved when crossing paths and working together. More specifically, he believes that,

“This partnership with Ripple is aligned with our unwavering philosophy of reimaging a simpler bank. We have significant interests in cross border remittances and plan to harness the power of Blockchain technology for making global payments faster and more convenient for our customers.”

XRP’s price is $0.25 XRP/USD exchange rate today. The real-time XRP market cap of $10.67 Billion currently ranks #4 with , daily trading volume of $186.84 Million and live coin value change of XRP 2.46 in the last 24 hours.

Live Ripple (XRP) Price:

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP

$0

24 Hour Change

$0.01

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