It became known that Ripple partners BRAC Bank and Terra Pay have connected.
It became known from a tweet that Ripple partners BRAC Bank and Terra Pay have connected. The tweet stated:
#Ripple partners BRAC Bank and Terra Pay have connected for cross-border payments in Bangladesh. Importantly, deposit will be enabled “directly to Bangladesh’s leading mobile wallet bKash, a subsidiary of BRAC Bank,” also a #Ripple partner.
It was also noted on the website:
The partnership will enable BRAC Bank to leverage TerraPay’s well-entrenched merchant partner networks globally (with due regulatory coverage) with payouts to 4.5Bn+ bank accounts and 1.5Bn+ mobile wallets. Additionally, TerraPay will be able to leverage BRAC Bank’s strong presence amongst more than 1.1 million customers and also tap into the esteemed Global Alliance for Banking on Values (GABV) network; with access to 6 financial institutions operating in key regions serving more than 60 million customers. The collective goal of actualizing a cashless society by creating an inclusive ecosystem for all drives this partnership. This opens doors to BRAC’s thriving and extensive ecosystem of merchants, corporates, and SMEs, to use TerraPay’s adaptive and safe payments technology, boosting global financial interoperability and inclusion.
Through this partnership, TerraPay ensures real-time automated deposits into the accounts of BRAC Bank customers in Bangladesh. At the same time, customers will also be able to deposit remittances directly to Bangladesh’s leading mobile wallet bKash, a subsidiary of BRAC Bank.