NCB joins RippleNet
Saudi Arabia’s the National Commercial Bank has joined RippleNet, Ripple’s enterprise blockchain network. The kingdom’s central bank has already done a pilot using Ripple’s technology for instant international payments. With over 5 million customers worldwide, the National Commercial Bank has followed the central bank in joining RippleNet to enable nearinstant international payments with partner banks. RippleNet has over 100 financial institutions including banks, payment providers, remittance operators and other financial institutions using the SWIFTreplacement platform for near real-time clearing and settlement of international transactions. The bank will initially connect to financial institutions in North America and Asia, starting in Singapore.