India’s Federal Bank, a commercial private bank, has partnered with Ripple to use its network for cross-border remittances. The bank announced the development in a letter on March 28.
The partnership with Ripple comes as part of a wider initiative to apply new technologies to the bank’s remittances network. Also on March 28, Federal Bank launched two remittance platforms in the United Arab Emirates (UAE) for making payments to India.
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