The largest Moroccan bank dives into cryptocurrency by joining the RippleNet network


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According to news reports, Morocco’s leading banking operator, Attijariwafa Bank, has joined the RippleNet network.

RippleNet is an international cross-border payment network designed by the US company Ripple.

detect report news- Local that Attijariwafa bank has become a member of the RippleNet system.

By joining the cryptocurrency world, the Moroccan financial institution solidified its position as an innovative banking pioneer in the North African region.

As a result, bank members will be able to exchange transactions with each other from many destinations around the world.

Adnan Daryoush, director of corporate cash management at the bank, said:

The Bank has been seeking to enter the modern technology industry by launching several initiatives for more than a year.

He concluded that joining the “RippleNet” network, and thus touching the world of the blockchain, which is another milestone for “attijariwafa bank”.

He added:

With RippleNet, we connect to the blockchain, which is another fast and secure way to receive money.

Attijariwafa bank confirmed that it has also entered into a partnership with Thunes, a remittance aggregator and member of the RippleNet network.

The cooperation will be particularly beneficial to the Moroccan population living in the United Kingdom and the Netherlands.

Several months ago, the Ripple project joined another banking institution, the Royal Monetary Authority, the Central Bank of Bhutan.

Their main goal was to launch a digital currency for the central bank of the Asian country.

The Royal Monetary Authority expects to boost cross-border digital payments and expand financial inclusion efforts by 85% by next year by joining forces with the US company.

Being the only zero-carbon country in the world, Bhutan places great emphasis on green initiatives.

As such, Ripple has made it clear that a CBDC solution can be in line with its principles because it will be carbon neutral.

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