Ripple is entering Morocco with its new partnership, which will spread RippleNet services across the Moroccan and MENA region. Ripple is partnering with Thunes Payments and Attijariwafa Bank to make this expansion possible.
Thunes is a global payment platform spanning over 130+ countries, and Attijariwafa Bank is one of the largest banks providing services in Africa and Morocco.
The new partnership will allow users of the Attijariwafa bank to receive payments seamlessly and quickly through Thunes and RippleNet. RippleNet is Ripple’s cross-border payment platform that mainly helps banks with remittance services.
The partnership will allow customers to make bank payments seamlessly across Morocco.
Ripple’s new partnership will aid nearly 30 million customers
The partnership, according to Thunes, will allow nearly 30 million users in Morocco to receive payments directly to their accounts.
“Thanks to Thunes’ Membership in the Ripplenet network, Attijariwafa bank and its international financial partners, are now able to exchange transfers in a transparent, secure, and instantaneous way,” said Mrs. Nawal Alami, Head of Cash Management at Attijariwafa bank.
In other news, Ripple was shortlisted for the G20 CBDC challenge. Out of almost 100 teams, 21 teams were shortlisted and Ripple earned a place on the list. Some of the other competitors in the list include BitMint, Mastercard Asia, and others.
The G20 TechSprint challenge was initiated by the Bank of International Settlements and Bank Indonesia under the Indonesian G20 Presidency. The CBDC competition was launched in April and included challenges for various developers, entrepreneurs, and innovators. The challenge was mainly to develop innovative solutions to transfer and distribute CBDCs. It also included measures to improve the interoperability and payment systems.
The firms that are shortlisted will have time till the end of August to provide a prototype of their solution. The solutions will help CBDCs be widely accepted.