The leading banking service operator in Morocco – Attijariwafa Bank – has reportedly joined RippleNet. The latter is an international cross-border payment network designed by the American blockchain company Ripple.
A local report revealed that Attijariwafa Bank had become a member of the RippleNet ecosystem. By joining the crypto world, the Moroccan financial institution has strengthened its position as an innovative banking leader in the North African region.
As a result, members of Attijariwafa Bank will be able to exchange transactions with each other from numerous destinations around the world. The Moroccan diaspora consists of nearly 5 million people, as over 1 million reside in France.
Adnane Driouech – Corporate Cash Management Manager at the bank – said his company has been seeking to enter the modern tech industry by launching several initiatives for more than a year. Joining RippleNet and thus touching the blockchain universe is another milestone for Attijariwafa Bank, he concluded:
“With RippleNet, we connect to the blockchain, another fast and foolproof way to receive funds.”
Attijariwafa Bank confirmed it also partnered with Thunes – a transfer aggregator and a member of the RippleNet network. The collaboration цould be particularly beneficial for the Moroccan population living in the United Kingdom and the Netherlands.
Several months ago, the blockchain project joined forces with another banking institution – The Royal Monetary Authority (Bhutan’s central bank). Their main goal was to launch a central bank digital currency in the Asian nation.
The Royal Monetary Authority expects to “enhance digital and cross-border payments and expand financial inclusion efforts” by 85% by next year by combining efforts with the US company.
Being the only carbon-negative nation globally, Bhutan is highly focused on green initiatives. As such, Ripple explained that the CBDC solution could be a match for its principles as it would be carbon-neutral.