Bangladesh-based Banking company Asia has joined Ripple'southward RippleNet blockchain-based financial services network.

The partnership was only recently discovered afterwards a Twitter user pointed out the Banking concern Asia logo in an official Ripple certificate on February. 10. Notwithstanding, the partnership must be well over a month sometime, given that the certificate in question was published in December 2019.

Bank Asia'southward logo is present on a page showing examples of RippleNet users, alongside Santander, American Express, MoneyGram, Send Friend, Standard Chartered, SABB and SBI Grouping. The LinkedIn profile of the bank'south caput of foreign remittances Khandaker Mujahidul Islam shows that he is working on integrating the institution'south organization with Ripple'due south cantankerous border transaction solution xCurrent since March 2018.

In the description of the project, he writes that he aims:

"To connect the Bank into the Ripple network where numbers of banks and MSBs are connected. End result is a block-chain based networks facilitating existent time remittance transfers."

A major banking partnership

Co-ordinate to its website, Banking company Asia was founded in 1999, has 2,256 employees, 128 branches and 3,186 amanuensis outlets. The bank'due south total avails are worth nearly 289 billion Bangladeshi takas, equivalent to over $3.4 billion equally of Dec. 31, 2017. Lastly, the bank also claims to have managed well-nigh 52 one thousand thousand Bangladeshi takas (over $609 meg), by the same date.

Ripple did non immediately provide answers to Cointelegraph's questions on whether the banking concern is expected to utilize XRP in any way.

Ripple'southward increasing popularity among banks

Ripple'due south financial infrastructure is growing increasingly popular. As Cointelegraph reported yesterday, the National Bank of Egypt signed a cooperation understanding with Ripple to plant new channels for inward remittances.

Earlier this month, Ripple also formed a new partnership with remittances house International Coin Express to bolster cross-border payments between the United States and Mexico.