Ripple is entering Morocco with its new partnership, which will distribute RippleNet services across the Moroccan and MENA regions. Ripple has partnered with Thunes Payments and Attijariwafa Bank to enable this expansion.
Thunes is a global payment platform in more than 130 countries, and Attijariwafa Bank is one of the largest banks providing services in Africa and Morocco.
The new partnership will allow Attijariwafa bank users to receive payments seamlessly and quickly through Thunes and RippleNet. RippleNet is Ripple’s cross-border payment platform that mainly helps banks with remittance services.
Thanks to the partnership, customers will be able to seamlessly make bank payments throughout Morocco.
Ripple’s New Partnership Will Help Nearly 30 Million Customers
The partnership will enable nearly 30 million users in Morocco to receive payments directly into their accounts, according to Thunes.
“Thanks to Thunes’ membership in the Ripplenet network, Attijariwafa Bank and its international financial partners can now exchange transfers in a transparent, secure and instantaneous manner,” said Ms. Nawal Alami, Head of Cash Management Bee Attijariwafa bank.
In other news, Ripple was shortlisted for the G20 CBDC challenge. Out of nearly 100 teams, 21 were shortlisted and Ripple earned a spot on the list. Some of the other competitors in the list are BitMint, Mastercard Asia, and others.
The G20 TechSprint Challenge was initiated by the Bank of International Settlements and Bank Indonesia under the Indonesian G20 Presidency. The CBDC competition launched in April and featured challenges for various developers, entrepreneurs and innovators. The main challenge was to develop innovative solutions for transferring and distributing CBDCs. It also included measures to improve interoperability and payment systems.
The shortlisted companies have until the end of August to provide a prototype of their solution. The solutions will help ensure that CBDCs are widely accepted.