SABB: Launched Blockchain-Based Cross-Border Payments System

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SABB: Launched Blockchain-Based Cross-Border Payments System

Saudi British Bank (SABB): Launched real-time Blockchain-Based Cross-Border Payments System

  • Cross-border transfer service based on the Ripple blockchain network
  • SABB, first Saudi banks to join the network under Saudi Arabian Monetary Authority
  • Allows customers to access to faster, safer and more transparent cross-border payments
  • The plan aims to provide customers with a valuable service and link more countries
  • In Saudi Arabia SABB has taken the lead in offering digital services in the local market
  • The bank is also part of enterprise software firm R3’s global blockchain consortium