Ripple Turkey & Isreal? Ripple technology to help Turkish and Israeli startups perform cross-border transfers,
A Turkish bank called Akbank has confirmed that they’ll start using Ripple technology to perform cross-border transfers of the British pound. Akbank is the first private bank in Turkey to adopt the blockchain-based cross-border payments technology.
The news were confirmed by Tolga Ulutaş, Executive Vice-President in charge of Direct Banking at Akbank. The bank joined Ripple’s global payment network Ripplenet back in April 2017, when Ulutaş had this to say:
“We are excited and happy to be the first bank in Turkey to take the important step of using blockchain technology for international money transfer services. We believe that this new phase in technology will increase speed and transparency for our customers while at the same time reducing costs and providing a higher quality of service.”2 more days to buy TradingView with 60% off
Ulutaş confirmed just a couple of days ago that Akbank has decided to officially start transferring GBP with the help of Ripple’s infrastructure:
“Now we have started to transfer money from GBP via Ripple to Santander UK with Blockchain infrastructure. With this important technology, our customers will now be able to benefit from the possibility of transferring money to international money transfers at a much lower cost. With the participation of new banks in the system, we continue our journey to expand this service through cooperation with different banks.”
At the same time, Israeli money transfer company GMT also confirmed they will be the first Ripple representative from Israel. GMT is joining companies like MoneyGram, AmericanExpress, CIBC, Earthport, mentioned Akbank and many more that are already authorized to use Ripple’s platform.