According to the tweet of Navin Gupta, managing director of South Asia and MENA at Ripple, BankDhofar, Oman’s second largest bank by market value, has started to use RippleNet technology for cross-border payments to India.
Gupta mentioned “Congratulations! to Bank Dhofar – Live on Ripplenet. Now Non Resident Indians (NRI’s) living in Oman can App money back home in real-time.”
Bank of Dhofar, according to the announcement, became the first bank in the Sultanate and one of the first in the region to adopt RippleNet and to provide international, instantaneous transfer through mobile banking.
The announcement also mentions that “Ripple’s leading blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables Bank of Dhofar to save customers’ time when sending payments overseas, using BankDhofar mobile banking app.”