As stated by a Twitter handler, Navin Gupta, a connection is established between Ripple Partner, QNB with the China Bank, on the top private universal banks in the Philippines via RippleNet.
As stated by Gulf-Times, the new partnership will allow the bank’s users to have an easy remittance process as well as a fast and enhanced cross-border transfer option. Through this service, the Filipino people in Qatar would be able to send instant funds which are up to PHP50,000 to any bank within the Philippines.
According to the Navin Gupta, the Managing Director, South Asia, and MENA, at Ripple:
“QNB is our biggest partner in the MENA region and we are delighted to continuously strengthen this partnership on RippleNet to additional countries. The Philippines is one of the largest remittance receivers globally, and we are pleased to be connecting QNB with China Bank to process remittances from Qatar to the Philippines via Ripple Net.”
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SEC Attempts To Overturn Netburn Decision
In the recent case between SEC and Ripple, SEC is attempting to overturn the decision of the Magistrate court Netburn. The magistrate has once denied the SEC objection on the Hinman speech of 2018 which was denied in April 2022.
Howbeit, SEC made yet another attempt to keep the documents from being used to support Ripple’s Fair Notice Defense.
The SEC claimed that Hinman’s document is protected by attorney-client privilege and cannot be used as evidence in the lawsuit.
Judge Netburn has regarded the SEC’s argument as inconsistent, therefore, Judge Netburn added that the purpose of the communication that led to Hinman’s 2018 speech was not to provide legal advice to support the SEC. In this view, SEC is given 14 days from the order to file an objection. The Magistrate Judge Netburn denied the SEC’s attorney-client on the 12th of July 2022, this implies that the SEC’s objection ends on the 26th of July 2022.