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English news

02-Feb-2017

NBAD offers blockchain payments after tie-up with Ripple

National Bank of Abu Dhabi (NBAD) said on Wednesday it had become the first bank in the MENA to introduce real time, cross-border payments on blockchain. Through a partnership with Ripple, a US start-up specialising in blockchain technology, NBAD said it would allow customers to cut the cost and speed of payments. Several other banks have already partnered with Ripple, which uses the blockchain technology that underpins digital currency bitcoin to help banks speed up their dealings with one another. (Reuters)   Natl. Bank of AD (AD)   : AED9.88 as of 1 Feb. 2017, Rating: Buy, TP: AED10.80/share, MCap: USD14,026mn, NBAD UH/NBAD.AD 

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