On September 6, Pakistan’s
Faysal Bank (FBL) announced a partnership with Ripple to use RippleNet. The Karachi-based bank will be adopting Ripple’s xCurrent blockchain messaging platform for cross border payments.
The bank claims to be the first in Pakistan to employ Ripple’s blockchain for cross-border payments. It is one of the biggest banks of Pakistan with total assets of 545.6 billion Pakistani rupees (US$3.5 billion) at the end of March 2019.
“Faysal Bank will be introducing a fast, secure and convenient cross border payments service by partnering with Ripple on their xCurrent offering,” said Faysal Bank.
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