Ripple Partners with New Bank: CIB

Following a significant legal victory against the SEC in the SEC-XRP lawsuit, Ripple continues to forge new partnerships.

Recent reports suggest that Ripple has entered into a collaboration with Commercial International Bank (CIB) in Egypt.

The partnership was revealed in a recent Egypt Fintech 2024 report by Shehata & Partners Law Firm, which stated that CIB is poised to revolutionize cross-border payments through this collaboration.

The report highlights that this agreement comes after Ripple’s announcement of increasing its presence in the US, and is part of the company’s efforts to accelerate its global expansion.

It is also mentioned that CIB is the first major Egyptian bank, aside from the National Bank of Egypt (NBE), to publicly announce its partnership with Ripple.

The report concludes by stating that CIB’s partnership with Ripple could pave the way for increased adoption of XRP.