BankDhofar joins RippleNet
BankDhofar has become the first bank in Oman to join RippleNet, Ripple’s enterprise blockchain network with over 100-member banks and financial institutions. The bank is now able to access Ripple’s blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features. It will help the bank in its efforts to save customers both time and money when sending payments overseas. Dr Tariq Taha, CIO at the bank, said the bank is now able to provide instant, frictionless and secure cross border money transfers within seconds, with end-to-end visibility over the journey of the payment. The bank has also joined blockchain consortium BankChain, becoming the first bank in Oman to join the initiative.