Chairman of the National Bank of Egypt: Joining RippleNet will boost liquidity management and foreign currency assets

The National Bank of Egypt (NBE) announced that it has joined the RippleNet network. The media analysis of the move is actually hoping to enter new markets, especially to expand its remittance business in the Gulf region. NBE chairman Dalia El-Baz said he expects RippleNet to grow exponentially, boosting the institution's liquidity management and foreign currency assets. In terms of obtaining a faster and more efficient cross-border payment mechanism, the National Bank hopes to expand its customer base while ensuring that users fully comply with international insurance standards and achieve high levels of operational network security on the blockchain.