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PNC Bank, the 9th largest bank in the United States by assets, has joined Ripple’s enterprise blockchain network RippleNet in what is a noteworthy addition for the San Francisco-based fintech. With over $ 380 billion in assets, Pittsburg-based PNC Financial Services Group has become the latest member to join RippleNet, a global payments network of over
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Thursday 13th September 2018 was when Ripple announced on their website that NCB (National Commercial Bank) of the Kingdom Saudi Arabia (KSA) has become the latest enterprise customer and joined up with RippleNet and Ripple’s fast growing network of payment providers, virtual asset exchanges, banks etc.
For Ripple, this is huge as KSA is massive player in the remittance space, with the World Banks remittances data “showing that 308 million dollars were sent into the KSA, and 37 billion dollars in remittances were sent from the country in 2016.”
InstaReM, a Singapore-headquartered Fintech company offering digital cross-border money transfers to individuals and businesses, has officially partnered with BeeTech, a São Paulo-based payment service provider for South America. The partnership will utilize Ripple’s blockchain network and represents one of the first times non-bank RippleNet members in Asia and in South America will afford their customers the ability to utilize Ripple-powered payments across multiple markets.
InstaReM currently offers payment services to more than 55 countries, including many in Southeast Asia and Europe. By partnering with BeeTech, InstaReM now allows its customers to send real-time payments into South America, while BeeTech customers gain instant payout services into InstaReM’s 60 world markets.
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