bKash and Mobile Money Connect Through RippleNet To Power Wallet-To-Wallet Remittances


At this time, we’re thrilled to announce our partnership with Cellular Cash, a Malaysian cell pockets firm. Via RippleNet, Ripple’s international funds community, Cellular Cash has linked to bKash, Bangladesh’s largest supplier of cell monetary companies (MFS) which serves over 45 million customers. The partnership will energy seamless wallet-to-wallet funds to serve the remittance hall between Malaysia and Bangladesh. 

bKash and MobileMoney will acquire entry to a variety of RippleNet’s options, together with wallet-to-wallet transactions. Mutual Belief Financial institution (MTB) will work because the native banking accomplice in Bangladesh to carry out the remittance settlement below the purview of Bangladesh Financial institution and guarantee a seamless payout expertise.

Bangladesh has the third largest remittance flows in South Asia, and the eleventh largest worldwide, with Malaysia rating as one of many high 5 sources of remittances for Bangladesh. Via this partnership, Cellular Cash can be anticipating a rise in its person base of Bangladeshi staff by 20% because it permits them to raised serve their person base. 

”We’re continually exploring progressive methods to offer easy options to our clients. bKash is glad to have partnered with Ripple in collaboration with Mutual Belief Financial institution of Bangladesh to ship a value efficient, quick, clear and dependable remittance sending expertise to greater than 10 million non-resident Bangladeshis all around the world. This partnership will deliver nice comfort to each the recipients and senders, and contribute additional to our nationwide financial system by encouraging inward overseas remittance move by way of authorized channels,” mentioned Kamal Quadir, CEO of bKash.

“Our focus has at all times been on offering easy, cost-effective and handy e-payment options to our clients. Greater than ever, the pandemic has demonstrated that there’s a robust want for remittance options that allow folks to switch cash anytime and wherever. Our partnership with Ripple makes us one of many first few e-wallet corporations to supply such digital remittance options to Bangladeshi staff, and we’re assured that it’s going to allow us to remain forward of the competitors, whereas increasing our person base,” mentioned Lee Eng Sia, Founding father of Cellular Cash.

Syed Mahbubur Rahman, Managing Director & CEO of Mutual Belief Financial institution added, “We stay up for enabling wallet-to-wallet remittances from Malaysia to Bangladesh in real-time by partnering with bKash and Ripple. Final yr, Bangladesh remittances reached an all-time excessive of 18.2 billion U.S. {dollars} with the vast majority of these remittances coming from Malaysia, Center Japanese international locations and the US.”

“Ripple is eager to deliver larger connectivity and comfort for the Bangladeshi inhabitants, and supply them with a extra streamlined, frictionless cross-border cost expertise,” mentioned Navin Gupta, Managing Director of South Asia and MENA. “As Ripple is bolstering our presence in South Asia, we’re excited to contribute to the infrastructure of the area to remodel the best way cross-border funds are executed.”

RippleNet leverages distributed ledger expertise to ship monetary options — from bi-directional messaging, settlement, liquidity administration and features of credit score — to a world community of companions.

When you’re a cost supplier in search of the appropriate answer to allow real-time international funds and need to be taught extra about RippleNet, contact us.



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