Saudi British Bank Launches Ripple-Powered USD Settlement Service for Corporate Clients
The Saudi British Bank has announced that it will leverage Ripple's technology in order to provide its corporate clients with instant USD settlements.This is the third corridor that has been opened with the help of Ripple.In 2019, the San Francisco-based company also helped Saudi British Bank to launch remittance corridors to India and Sri Lanka.Ripple's Brooks Entwistle claims that the expansion of the partnership will benefit corporations and consumers in the region:
We're excited to bring this to market in partnership with SABB and to continue our longstanding partnership to the benefit of corporates and consumers alike in the region.
Last month, Ripple CEO Brad Garlinghouse said that the Middle East was the company's fastest-growing region.
Ripple CEO Brad Garlinghouse says the Middle East is the company's fastest growing region #XRP pic.twitter.com/tHInXiRuy5— 𝗕𝗮𝗻𝗸XRP (@BankXRP) October 29, 2021