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RAKBank Is Expanding Its Remittance Routes Using Ripple’s Blockchain Technology


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UAE-based RAKBank extends its ‘RAKMoneyTransfer’ services into the Bangladeshi land by partnering with commercial bank Bank Asia to support expats.

RAKBank, also known as the National Bank of Ras Al Khaimah (P.S.C), is one of the oldest banks in the UAE. It has been a RippleNet member since November 2017.

A partnership, announced Sunday, between Bangladesh-based Bank Asia and RAKBank will allow users to transfer money between accounts at the two institutions within 24 hours, RAKBank said.


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