a statement Mr. Vong Nguyen, Head of Digital Economy and Project Management at Orient Commercial Joint Stock Bank (OCB), based in Vietnam, announced a new partnership with Ripple.

One of the most important banks in the Asian country, OCB Bank (OCB) manages about $4.6 billion in assets.

Nguyen said they have joined the RippleNet network and have thus become strategic partners.

OCB is headquartered in Ho Chi Minh City and has more than 130 branches throughout Vietnam.

The Bank’s services focus on providing loan services to retail and small and medium business clients.

In the second quarter of this year, Japan’s Aozora Bank acquired 15% of the bank’s shares.

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Ripple and OCB and improving financial services:

Nguyen told that the collaboration was achieved after 10 months of work where many “resources” were mobilized and potential use cases for Ripple technologies were explored at the enterprise level, stating:

I would like to announce that (OCB) has officially joined RippleNet as a strategic partner.

With this investment in Ripple-powered blockchain technology, we aim to apply new technology to businesses in order to reduce expenses, increase productivity, achieve transparency and provide the best customer service through cross-border transfers and payments with competitive and instant fees.

In addition, Nguyen thanked the Ripple team in Singapore for their dedication and commitment.

The cooperation aims to provide more services and improve the services already provided by the banking institution to its customers in Vietnam.

The Ripple community welcomed the partnership with The Corporation for Banking (OCB).

One user mentioned that this is another milestone in the increasing adoption of Ripple solutions.

Another user provided context on the importance of collaboration and its implications for Ripple by saying:

(OCB) is a joint venture between the Vietnamese government and (BNP Paribas).

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The Vietnamese government/banking industry has deep ties to the Chinese government, which is another piece of the puzzle in place.

Therefore, it is possible to speculate about the possibility of adopting more Ripple technologies and services in Asia.

OCB has joined TB Bank, which is also based in Vietnam, as one of the company’s most important partners.

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Upon receiving the CX Impact Award at the Ripple Swell Conference, TB Bank representatives stated that the institution is eager to innovate.

Since July, there have been many rumors that Ripple might open a new payment corridor for Vietnam.

Rumors and speculation have started since Ripple’s partner, SBI Remit, announced its collaboration with Michinoku Bank, with the aim of facilitating the sending of remittances to Japan.

In conclusion, it can be said that Ripple is expanding its products and services well in the Asian region.

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