Standard Chartered Partnered with Ant Not Ripple

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Standard Chartered is one of the biggest bank in Europe. The bank decided to make cooperation with Ant Blockchain Company, the wing of Alibaba. The cooperation is to create remitance service for bKash that works together with Malaysian company Valyou. The remmitance serve the crossborder money transfer to Bangladeshi workers in Malaysia.

Per the New Straits Times, Malaysian Home Office figures released in 2017 showed that over 221,000 Bangladeshis were working in the country, more than any other group except for Nepali workers.


https://cryptonews.com/news/standard-chartered-picks-ant-not-ripple-for-new-remittance-s-7679.htm
bKash operates more than 240,000 outlets in Bangladesh as the service of remittance from Bangladeshi workers in Malysia.

Standard chartered will use blockchain tech in the cooperation to create seamless experience in sending money from Malaysia to Bangladesh.

Cooperation between banks and blockchain start ups is a good sign that cryptocurrency will be accepted world wide. Banks is still reluctant to accept cryptocurrency payment. They strategy to accept blockchain tech is via cooperation of their sub companies with blockchain start ups. Is it because of regulation?

When banks accept cryptocurrency directly?

Sooner or later, banks will launch their digital currency. Once the digital currency is lauched, it is the time for cryptocurrency take off to mass adoption. Bank Digital currency swap exchange with cryptocurrency is a bridge to other platforms. It means that more people will be more exposure to cryptocurrency world when they accustomed to bank digital currency.

Posted Using LeoFinance



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