Ripple’s expansion continues with a new partnership withEgypt’s national bank in order to implement remittance payments.
The National Bank of Egypt will team up with Ripple with a view to using the XRP blockchain-based payment network RippleNet to make quicker and less expensive cross-border payments easier.
The bank will be the first in Egypt to offer such a product.
The NBE see the main benefits of using RippleNet for faster transaction time and lower rates.
The value of XRP has increased in since the news with the price hitting a high of $0.33 earlier today.
Price is currently $0.31 cents