• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Upcoming Events
    • CryptoSphere, Wrocław (February 4, 2023)
    • TMRW, Dubai (February 8-10, 2023)
    • Blockchain Fest, Singapore (February 16-17, 2023)
    • Blockchain Economy Summit, London (February 27-28, 2023)
    • Paris Blockchain Week (March 20-24, 2023)
    • GAIN Expo, Amsterdam (May 4-5, 2023)
    • Blockchain Expo North America, Santa Clara (May 17-18, 2023)
    • COMEX, Oman (May 22-25, 2023)
    • BLOCK3000: Blockchain Battle, Lisbon (July 6-7, 2023)
    • NFT Show Europe, Valencia (July 14-15, 2023)
    • TOKEN2049, Singapore (September 13-14, 2023)
    • Blockchain Expo Europe, Amsterdam (September 26-27, 2023)
  • Past Events
    • Event Horizon
    • Blockchain Life
    • BlockShow Europe

Crypto Reporter

Online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies


Join us on Telegram: https://t.me/crypto_reporter
Visit Paris Blockchain Week on March 20-24, 2023
  • News
    • News Feed
    • Cryptocurrencies
      • Bitcoin
      • Altcoins
    • Payment solutions
    • Exchanges
      • Binance
      • bitFlyer
      • Bitfinex
      • CBOE
      • CME
      • Coinbase
      • Coincheck
      • Coinfloor
      • Nasdaq
      • Poloniex
    • Regulations
      • Australia
      • Belarus
      • China
      • Europe
      • India
      • Iran
      • Israel
      • Japan
      • North Korea
      • Philippines
      • Portugal
      • Russia
      • South Korea
      • Thailand
      • Turkey
      • Venezuela
      • Vietnam
      • United States
    • Blockchain platforms
    • Crypto news in brief
    • Stats & trends
    • Reviews
      • Ambrosus
      • ATN
      • Dash
      • Green Power Exchange
      • Power Ledger
      • ShapeShift
      • Waltonchain
      • Cryptocurrency market capitalization can top 4 trillion USD, under conservative estimates
    • Opinion
    • Sponsored
  • Press Releases

Ripple partners with the National Bank of Egypt

May 26, 2021 By Crypto Reporter

The National Bank of Egypt gets access to global remittences network via RippleNet to process transborder payments from the UAE

Ripple has announced a partnership with the National Bank of Egypt (NBE), the country’s largest bank. Using the global payment network of RippleNet, the bank will get a direct access to LuLu International Exchange, financial services provider, based in the United Arab Emirates. The agreement will allow NBE to process transborder payments from the UAE.

According to the World Bank, the country’s expatriate community spread over the Gulf states wired around $24 billion from abroad in 2020, making Egypt one of the top five biggest payment recipients in the world, right after India, China, Mexico and the Philippines.

”NBE’s partnership with Ripple will help to improve overall efficiency by enabling NBE to establish new alliances across wider markets with reduced cost and quicker integration time. We are very excited to announce our new partnership with Ripple and Lulu which we believe will contribute to a further acceleration of the Egypt-UAE remittances corridor’, said Hesham Elsafty, Group Head for Financial Institutions and International Financial Services at NBE.

The National Bank of Egypt is the largest bank in the country that was founded in 1898. The NBE has 540 branches across the country. Its partnership with Ripple is expected to further enhance the payments ecosystem in the MENA region, bolster the financial infrastructure and provide a frictionless cross-border payment experience for the Egyptian community.

More news:

  • Indonesia to launch a national crypto exchange
    Indonesia to launch a national crypto exchange
    January 6, 2023
  • US oldest bank BNY Mellon adopts bitcoin
    US oldest bank BNY Mellon adopts bitcoin
    February 19, 2021
  • U.S. second-oldest State Street bank to focus on digital finance 
    U.S. second-oldest State Street bank to focus on digital finance 
    June 23, 2021
  • Tanzania's president urges central bank to prepare for crypto
    Tanzania's president urges central bank to prepare for crypto
    June 30, 2021
  • Southeast Asia’s largest bank DBS expands its crypto business
    Southeast Asia’s largest bank DBS expands its crypto business
    August 17, 2021
  • Foreign visitors to China will be able to use the digital yuan without a local bank account
    Foreign visitors to China will be able to use the digital yuan without a local bank account
    July 26, 2021

Filed Under: General News, News Tagged With: cryptocurrency, news, payment services, Ripple

Primary Sidebar

Follow Us

Press Releases

Near Protocol (NEAR) and Polkadot (DOT) Drop; Orbeon Protocol (ORBN) Skyrockets 1400%

January 31, 2023

QI Blockchain Ecosystem: The Fastest Growing Ecosystem in the World

January 30, 2023

Here’s Why Aptos (APT) Will Overtake Ethereum

January 29, 2023

Maximizing Defi Opportunities: Orbeon Protocol (ORBN), Aave (AAVE) and Quant (QNT)

January 28, 2023

Blockchain Expo is returning to California

January 27, 2023

Cryptosphere

TMRW

Blockchain Fest Singapore 2023

Blockchain Economy London 2023

PBW 2023

GAIN Expo 2023

Blockchain Expo North America 2023

COMEX 2023

Blockchain Expo Europe 2023

Blockchain Expo Global 2023

Footer

Crypto Reporter is an online magazine about cryptocurrencies, NFTs, DeFi, GameFi and other blockchain technologies
About us
Contact us
Submit press-release

Search

2017-2023 Crypto Reporter