CIMB joins RippleNet to power instant payments across Asean

Ripple effect: Garlinghouse (left) and Tengku Zafrul commemorating the strategic collaboration at the Singapore FinTech festival 2018 recently.

KUALA LUMPUR: CIMB Group Holdings Bhd and Ripple Labs Inc, a US-based technology company, have entered into a strategic collaboration to enable instant cross-border payments across its various markets.

On the back of this partnership, CIMB will join Ripple’s network (RippleNet), which will facilitate access to other RippleNet members and allow CIMB to grow its cross-border payments business.