Ripple Partners With Al Ansari Exchange

 Al Ansari Exchange to join with RippleNet, this was announced yesterday by Ripple. RippleNet is the global cloud based financial network technology of Ripple while Al Ansari exchange is a foreign exchange based in the United Arab Emirates. 

The Blockchain technology has provided a unique opportunity to send remittances across the world in real-time. Blockchain will allow for a seamless, transparent and straightforward way of moving money quickly and easily. Through the partnership between Ripple and MoneyMatch, adopting the blockchain technology on the cloud will allow application of innovation to solve the problem of transferring money. The end goal of the partnership is to create a service that can meet customer expectations and expand globally.

Partnership To Provide Same-day Remittances 

Ripple stated in the announcement that Al Ansari Exchange will provide same-day remittances via the RippleNet Cloud. These same-day remittances to Malaysia will be with the help of MoneyMatch, a top money transfer technology firm. 

Transfers in Malaysian Ringgit (MYR) will be facilitated via this new partnership and soon the service will also support in the future the Brunei dollar and Australian dollar. This announcement by Ripple is coming after Global Money Express joined RippleNet about two months ago.

RippleNet Cloud is an important service of Ripple which provides cloud computing to banks and financial institutions. This allows the financial sector to evolve from the old infrastructure and move to the fast, flexible and resilient cloud computing. Due to the huge benefits offered by RippleNet cloud, the adoption has been steadily increasing since the start of this year.

Navin Gupta is the managing director of South Asia and MENA of Ripple. Navin Gupta commented on the announcement by Ripple: Al Ansari is one of the biggest and oldest exchanges in the MENA region, and they are focused on expansion and improving their services to customers. He also considers the partnership with MoneyMatch as an important step in expansion and improving remittances across borders. 

Ripple And Cross-Border Remittances 

The popularity of RippleNet has risen significantly among financial institutions across the globe and this is because of its speed and cost-saving nature. Prominent financial institutions such as the National Bank of Egypt and Lulu Exchange of Dubai joined RippleNet.

RippleNet makes use of blockchain technology to assist its partners improve their business performance and scale their operations across a global network. It also provides quality end-customer experience and a simplified network partnership. RippleNet also provides standard infrastructure that allows real-time payments, provides liquidity management solutions and also line of credit.