Ethereum

United

Bank AI

Galaxy

<ul> 
 <li>The collaboration would dramatically alter the nature of international money transfers in Egypt.</li> 
 <li>A wider adoption trend within Egypt’s financial industry is shown by CIB’s venture.</li> 
</ul> 
The firm behind the <a href="https://thenewscrypto.com/ripple-xrp-price-prediction/" target="_blank" rel="noreferrer noopener">XRP</a> token, Ripple, has collaborated with the Commercial International Bank (CIB) of Egypt. This is a major achievement for the corporation as it has strengthened its position in the Egyptian market. 
This follows Ripple’s announcement that it would strengthen its presence outside of the United States, suggesting that the company is making great strides to speed up its worldwide development. 
Shehata &amp; Partners Law Firm’s most recent Egypt Fintech 2024 research claims that CIB’s relationship with Ripple would dramatically alter the nature of international money transfers. In addition, the bank plans to take use of the opportunity to improve the efficiency of foreign money transfers. 
<h3 class="wp-block-heading" id="h-crucial-from-strategic-standpoint">Crucial from Strategic Standpoint</h3> 
Moreover, being the first major Egyptian bank to openly declare its relationship with <a href="https://thenewscrypto.com/ripple-xrp-reclaims-key-support-eyes-higher-level-in-february/" target="_blank" rel="noreferrer noopener">Ripple</a>, CIB’s action signifies a significant change, surpassing even the National Bank of Egypt (<a href="https://www.nbe.com.eg/" target="_blank" rel="noreferrer noopener nofollow">NBE</a>). 
Using XRP for international payments is also shaping up to be a fantastic potential for the business. A wider adoption trend within Egypt’s financial industry is shown by <a href="https://www.cibeg.com/" target="_blank" rel="noreferrer noopener nofollow">CIB’s</a> venture, which follows NBE’s prior partnership with LuLu Exchange. 
In addition, Sean McBride, a former director of Ripple, went on twitter to explain why these kinds of partnerships are crucial from a strategic standpoint. He said that Ripple has previously worked with SBI Remit in Japan, which was a comparable approach. 
There has been no public disclosure of how deeply CIB has integrated Ripple’s technology, but those in the know are predicting a game-changing influence on the speed and cost-effectiveness of international money transfers. 
Highlighted Crypto News Today: 
<a href="https://thenewscrypto.com/galaxy-digital-snaps-up-76m-in-ethereum-amidst-recent-price-surge/" target="_blank" rel="noreferrer noopener">Galaxy Digital Snaps Up $76M in Ethereum Amidst Recent Price Surge</a>

Ripple Boosts Global Expansion with CIB Collaboration in Egypt

Indice dei contenuti

TheNewsCrypto

Altri articoli pubblicati su 20 feb 2024

Filecoin: How Solana helped FIL prices jump 38% in 7 days

Ripple CTO David Schwartz Addresses XRP Price Controversies: What You Need to Know

Sam Bankman-Fried captured in first jail photo

Pixels Price: Why is PIXEL Price Rallying?

Herring Global Highlights Massive Demand for Connecting DEXs and CEXs (20 Feb)

Polygon teams up to launch palm recognition Proof of Humanity protocol

Iscriviti alla nostra newsletter gratuita per aggiornamenti giornalieri sulle criptovalute!