Oman’s Second Largest Bank Joins RippleNet Cross-Border Payment Network
BankDhofar, Oman’s second-largest bank by market value joins RippleNet technology for cross-border payments to India, as announced by Navin Gupta, the managing director of South Asia and MENA at Ripple, via a tweet on Feb. 16.
BankDhofar is the first bank in the country and the one of the first in the region to adopt RippleNet. The network will enable the bank to make cross-border transfers via a mobile banking application “in less than 2 minutes. ” Which will allow the non-resident Indians living in Oman to conduct real-time payment transfers.