The National Bank of Abu Dhabi (NBDA) has partnered with Ripple to introduce real-time, cross-border payments on blockchain, to cut the cost of transactions and make them faster. Several other banks are already using Ripple's technology, including Santander, Standard Chartered and Unicredit. In a statement, NBDA said it was "pleased that our customers can now use their mobile phones as an alternative payment method for online purchases in more than 100 countries around the world."
The National Bank of Abu Dhabi (NBDA) has partnered with Ripple to introduce real-time, cross-border payments on blockchain, to cut the cost of transactions and make them faster. Several other banks are already using Ripple's technology, including Santander, Standard Chartered and Unicredit. NBDA's move follows Emirates NBD's announcement in October that it was working with Indian lender ICICI on a blockchain project for global remittances and trade finance.