The Cooperative Bank of Oromia has unveiled its partnership with the Inclusive Financial Technology Foundation (InFTF) through a newly signed agreement for money transfer services.
InFTF is recognized for developing technology in the money transfer sector.
According to the bank, this agreement marks Ethiopia's first initiative to facilitate foreign exchange remittances via blockchain technology.
The implementation of this technology will allow for quicker and simpler money transfers, with remittance orders being completed in as little as three seconds, as stated by the bank.
InFTF is recognized for developing technology in the money transfer sector.
According to the bank, this agreement marks Ethiopia's first initiative to facilitate foreign exchange remittances via blockchain technology.
The implementation of this technology will allow for quicker and simpler money transfers, with remittance orders being completed in as little as three seconds, as stated by the bank.