🚨 Ripple announces a strategic partnership with Ras Al Khaimah National Bank - $XRP to support instant global transfers
On May 21, Ripple announced a new partnership with Ras Al Khaimah National Bank, one of the leading digital banking institutions in the United Arab Emirates. This agreement will enable instant cross-border payments using $XRP , starting with the corridor between India and the UAE.
This expands Ripple's presence in the Middle East's money transfer market, which is valued at $78 billion. Ras Al Khaimah National Bank will utilize the #RippleNet network and on-demand liquidity (ODL), using XRP as a bridge currency, which reduces friction, fees, and waiting times for cross-border money movement.
The price of XRP rose by 4.1% following this announcement. Trading volume also increased, and the phrase "UAE × XRP" topped the trends list on platform X. Analysts see this as a potential indication of renewed institutional confidence in the use of XRP in the real world.
Ripple's strategy in the Middle East is clearly accelerating. With its headquarters in Dubai now operational and its growing regional partnerships, Ripple is solidifying its position as a leading blockchain payment infrastructure in the Gulf Cooperation Council countries and beyond.
🇾🇪 #YE_SANAA
