now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
TechTalk / Treasury & Capital Markets
Ripple builds Malaysia-Bangladesh remittance corridor
Blockchain firm forges partnerships with Mobile Money and bKash to establish wallet-to-wallet payments service
The Asset 14 Jan 2021

Ripple, a blockchain payment solutions provider, has teamed up with Malaysian mobile wallet firm Mobile Money to establish a remittance corridor between Malaysia and Bangladesh.

Through the RippleNet global payments network, Mobile Money has connected to bKash, Bangladesh’s largest provider of mobile financial services which serves over 45 million users.

Mobile Money and bKash will gain access to a wide range of RippleNet’s features, including wallet-to-wallet transactions. Mutual Trust Bank (MTB) will work as the local banking partner in Bangladesh to perform the remittance settlement under the purview of Bangladesh Bank and ensure a seamless payout experience.

Bangladesh has the third largest remittance flows in South Asia, and the eleventh largest worldwide, with Malaysia ranking as one of the top five sources of remittances for Bangladesh.

Through the partnership, Mobile Money is also anticipating an increase in its user base of Bangladeshi workers by 20%.

Conversation
Markus Thielen
Markus Thielen
head of research & strategy
Matrixport
- JOINED THE EVENT -
In-person roundtable
What next for digital assets
View Highlights
Conversation
Maxime Perrin
Maxime Perrin
head of sustainable investment
Lombard Odier Investment Managers
- JOINED THE EVENT -
Webinar
Sustainable investing - the new market standard
View Highlights