Ripple’s Managing Director, South East Asia and MENA, Navin Gupta, has just aired a new adoption update for Ripple blockchain technology along India and Saudi Arabia province, implying a new cost effective and fast remittance corridor for residents of the region.

Gupta disclosed that a new remittance corridor built on Ripple was unveiled to the world at the Forest Stewardship Council (FSC) 2019.

Launched by the CEO of HSBC Saudi Arabia, Majed Najm, the new SABB’s remittance technology is designed to make transaction a piece of cake for Indian citizens in Saudi Arabia Kingdom (KSA).

Launch of SABB's remittance corridor to India at FSC 2019 by Majed Najm. Customers can enjoy the benefit of Ripple's blockchain tech delivering transparent and real time payments from KSA to India. #Ripple #sabbbank #RippleNet #FSC2019 pic.twitter.com/IsWEjZpgoM — Navin Gupta (@navinblockchain) April 25, 2019

The new SABB’s remittance corridor leverages Ripple blockchain technology in delivering trustless, transparent and instantaneous payments services for customers who intend transferring fund from KSA to India.

India citizens are recorded as the second highest foreigners in Saudi Arabia with over 5 million individuals. The new service initiated by the Saudi British Bank (SABBBank) has been tipped of making live easy for the occupying Indians who will be sending money home from KSA.

In January 2019, SABB joined RippleNet under an ongoing Saudi central bank pilot program without an official partnership announcement with Ripple. However, this marks a significant headway in the relationship between the top class bank and Ripple.

The Riyadh-based SAAB is a joint stock company with a tangible minority share from the British banking firm HSBC Holdings PLC. SAAB’s origin can be traced back to the British Bank of the Middle East which HSBC acquired in 1959.