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India’s Axis Bank uses RippleNet to facilitate payments between Singapore and the UAE

India’s Axis Bank uses RippleNet to facilitate payments between Singapore and the UAE
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The Singapore-India trade corridor is worth $15 billion annually. Retail remittances between the UAE and India – thanks to the large Indian workforce in the UAE that send a significant proportion of their salaries home every year — amounts to nearly $12.6 billion annually.

To meet this increasing demand for real-time payment services, Axis Bank (based in India), Standard Chartered (Singapore), and RAKBANK (United Arab Emirates) will now use RippleNet to send live, fast, frictionless cross-border payments.

Read the full story at https://ripple.com/insights/ripple-powered-instant-payment-services-now-live-axis-bank-rakbank-standard-chartered/

SOURCE: Ripple Insights

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