Ripple partnered with Himalayan Bank Limited, one of the largest private banks in Nepal. Ripple is actively partnering with various organizations and structures, gradually achieving important results. Ripple is able to achieve real leadership, including through meaningful cooperation. Ripple technologies, which are actively implemented by various structures, are also of great importance. Ripple’s ideas offer tremendous efficiency and reliability in terms of financial technology, and this is recognized by experts and figures around the world. Gradually, more and more companies are becoming partners with Ripple. So, Ripple collaborates with Himalayan Bank Limited.
Ripple partnered with Himalayan Bank Limited: Details
Ripple partnered with Himalayan Bank Limited (HBL), one of the largest private banks in Nepal, which began operations in January 1993. According to Ashok S.J. Rana, CEO of Himalayan Bank Limited, in the bank’s annual report for 2018, the organization is proud to be one of the main providers of money transfer services in the country. The money transfer business is growing day by day with the study of new areas of business on the Korean Peninsula, in Japan and other countries. Himalayan Bank Limited also contacted Ripple at that time and expected that services through Ripple technology would already begin to pass after a certain time. This is also confirmed by the head of the money transfer center for Himalayan Bank Limited Deep Shrestha.
According to him, he worked on Ripple network solutions to integrate blockchain technology with the online money transfer system. It is the first known bank operating with Ripple in Nepal, a country with a population of 29.3 million. Nepal received $ 8.1 billion in remittances in 2018, making it the 19th largest beneficiary of funds sent by migrants worldwide. The percentage of domestic remittances totaled a staggering 28% of the country’s GDP in 2018. Other details regarding Ripple’s partnership with Himalayan Bank Limited (HBL) are not currently known. It is worth noting that Ripple is already moving quite actively in this region.
So, in China, Ripple collaborates with Shanghai Huarui Bank and LianLianPay. In South Korea, Ripple has partnerships with: Coinone, Sentbe, Woori Bank, Shinhan Bank. In Japan, Ripple partners are: SBI Holdings, SBI remit, Mizuho, MUFG, Mitsubishi Corporation, Sumitomo Mitsui Banking Corporation, Japan Post Bank, Sumitomo Mitsui Trust Bank, Nomura Trust and Banking Co. In the Philippines, iremit, Cebuana Lhuillier, BDO Bank collaborate with Ripple.
In Indonesia, such organizations include Bank Sinarmas and Top remit, in Malaysia MoneyMatch, CIMB Bank, Sri Lanka Cargills Bank, Combank, Thailand Krungsri and SCB. In Vietnam, Ripple collaborates with TP Bank, and in Bangladesh with bKash. Ripple’s Indian partners are: Axis Bank, IndusInd Bank, Kotak Mahindra, Yes Bank, Federal Bank Ltd, HDFC Bank. Now, Nepal has added to this large-scale coverage of Ripple across the states, and the matter will obviously continue to move forward.