SINGAPORE (Jan 15): Malaysian cell pockets firm Cellular Cash introduced on Jan 14 that it had inked a partnership with Ripple, an enterprise blockchain answer. By way of RippleNet, the latter’s international fee community, it’s going to join with Bangladesh-based cell monetary companies supplier bKash to facilitate wallet-to-wallet remittance between the 2 nations.
“Greater than ever, the [Covid-19] pandemic has demonstrated that there’s a robust want for remittance options that allow individuals to switch cash anytime and wherever. Our partnership with Ripple makes us one of many first few ewallet firms to supply such digital remittance options to Bangladeshi employees,” says Cellular Cash founder Lee Eng Sia. Cellular Cash expects a 20% improve in its consumer base of Bangladeshi employees following the deal.
Beneath this new deal, bKash and MobileMoney will likely be granted entry to a variety of RippleNet’s options — together with wallet-to-wallet transactions. Mutual Belief Financial institution (MTB) has been named the native banking companion in Bangladesh to carry out remittance settlement processes underneath the purview of Bangladesh Financial institution, the nation’s central financial institution.
To learn the complete story, go to www.theedgesingapore.com.