Ripple has announced an agreement today, Feb. 14, with the Saudi Arabian Monetary Authority (SAMA) to provide support for Ripple’s cross-border payments technology to banks in the Kingdom of Saudi Arabia (KSA).
Dilip Rao, Ripple’s global head of infrastructure innovation, said:
“Central banks around the world are leaning into Blockchain technology in recognition of how it can transform cross-border payments, resulting in lower barriers to trade and commerce for both corporates [sic] and consumers.”
Rao added,
“SAMA is leading the charge as the first central bank to provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution.”
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