U.S. Ambassador Thompson Attends Launch of First Borderless Banking Service in Nepal

Kathmandu: U.S. Ambassador Dean R. Thompson attended the launch of the Borderless Banking Service, a new initiative by U.S.-based fintech company Xuno in partnership with Sidhartha Bank of Nepal.

The first-of-its-kind service directly connects banks in the United States with Nepal, enabling Nepalis living in the U.S. to open accounts in Nepal without traveling and providing safer, more affordable remittance options.

Ambassador Thompson congratulated both partners for their pioneering effort, noting that the initiative makes digital banking “truly border-less.” He underscored that such collaboration not only benefits Nepali communities abroad but also strengthens ties between the United States and Nepal.

Highlighting opportunities for future cooperation, Ambassador Thompson expressed optimism that U.S. fintech firms could work more closely with Nepali banks in financial technology and cybersecurity, further deepening bilateral economic engagement.