Bank Dhofar offers instant cross border Mobile banking transfers via Ripplenet

Bank Dhofar, Oman’s second-largest bank (by market value) with assets worth over RO 4.21 billion, joined Ripplenet back in May 2018.

Now, nine months later, Bank Dhofar is taking its Ripple partnership to the next level by extending Ripplenet to its mobile app. As announced by Bank Dhofar:

“Customers will be able to transfer money abroad instantly using BankDhofar Mobile banking App. Ripple’s leading Blockchain solution for cross-border payments, including its bi-directional messaging and instant settlement features, enables BankDhofar to save customer’s time when sending payments overseas, using BankDhofar Mobile banking App”.

The news were shared by BankDhofar’s official twitter account and Navin Gupta (Ripple’s Managing Director, South Asia and MENA).

The announcement confirmed that the money transfer service has already been tested with remittances to India. It makes sense that this app will be able to send money to all countries that are part of Ripplenet but this is only speculation at this point.