January 18

Malaysia’s Mobile Money, Bangladesh’s Bkash Team With Ripple on eWallet Remittances

“bKash and MobileMoney will gain access to a wide range of RippleNet’s features, including wallet-to-wallet transactions,” Ripple wrote in a news release announcing the deal.

Mutual Trust Bank will handle local banking in Bangladesh under the new arrangement, Ripple’s announcement stated.

According to preliminary 2020 World Bank data, Bangladesh is ranked ninth among the countries for which data is available — the list includes almost all large economies — in the amount of remittance inflows annually. The estimated 2020 figure is $19.76 billion. Malaysia falls 73rd on the list, with inflow of $1.4 billion.

Photo courtesy of Ismael Ferdous.

Source: PYMNTS (link opens in a new window)

blockchain, business development, financial inclusion, remittances