Kuwait Finance House Confirms Using Ripple Tech. For Cross Border Remittances

2019-1-8 15:28

Almost seven months after the Kuwait Finance House (KFH) announced that it was joining RippleNet, the bank has confirmed via twitter that it has started providing instant cross-border payments using Ripple technology. The exact Ripple technology being used by KFH has not been clarified at the moment of writing this. The announcement by KFH was as follows:

KFH has started operating an instant cross-border remittance service using Ripple’s blockchain technology. The zero fees “Instant International Transfer” service is available now in Saudi Riyal SAR where customers can make remittance transactions to beneficiaries at Al Rajhi Bank.

Kuwait Finance House Joining RippleNet Last May

The Kuwait Finance House became the first bank in the country to join RippleNet as announced in a May 2018 press release by the bank. The bank saw RippleNet as the future of international money transfers particularly in unique situations where time was a factor when sending the funds.

About RippleNet and KFH Joining the Network

RippleNet is a global payments network that makes it easy for its 200+ member banks to connect and transact. Member banks and financial institutions can leverage Ripple’s advances blockchain technology to power global payments as well as sourcing instant liquidity by using XRP.

The Ripple website was updated in September last year in a move that showcased RippleNet as the sole payments solution offered by the company. The new website no longer shows the original payment solutions of xCurrent, xRapid and xVia on its home page. This fact led many XRP enthusiasts to believe that RippleNet was the highly speculated convergence solution that summed the three products into one.

If this is the case, it means that KFH has access to all three payment solutions offered by Ripple. Of particular interest to many XRP enthusiasts, is to whether the bank is using xRapid or xCurrent. Out of the two, only xRapid uses the digital asset of XRP directly. Perhaps with time, the Kuwait Finance House will clarify on this matter.

What are your thoughts on the Kuwait Finance House confirming that it has started using Ripple blockchain technology for international remittances? Please let us know in the comment section below. 

Disclaimer: This article is not meant to give financial advice. Any additional opinion herein is purely the author’s and does not represent the opinion of Ethereum World News or any of its other writers. Please carry out your own research before investing in any of the numerous cryptocurrencies available. Thank you.

The post Kuwait Finance House Confirms Using Ripple Tech. For Cross Border Remittances appeared first on Ethereum World News.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5139 (+0.69%)
Объем 24H $757.762m
Изменеия 24h: -1.32 %, 7d: 3.17 %
Cегодня L: $0.5077 - H: $0.5177
Капитализация $28.416b Rank 7
Цена в час новости $ 0.3447 (49.09%)

ripple using kuwait finance house kfh technology

Источник: ethereumworldnews.com

ripple using → Результатов: 126


Ripple’s Much-Anticipated ‘Convergence’ Set to Tie in xRapid and xCurrent Using xVia

Ripple’s ‘Convergence’ to Bring xRapid and xCurrent Together using xVia? Ripple users, like any of those that firmly support any kind of cryptocurrency, have been in an extensive discussion regarding why the majority of Ripple's existing partners are using its xCurrent product as opposed to others, such as the xRapid? That's a bit of a […]

2018-8-19 06:05


Ripple заключил партнерство с биткоин-биржей Bittrex

Блокчейн-стартап Ripple объявил о партнерстве с тремя криптовалютными биржами — американской Bittrex, мексиканской Bitso и филиппинской Coins. Ph, которые будут использовать продукт для трансграничных платежей xRapid.

2018-8-17 09:37


NEO Finance ICO

NEO Finance offers an international platform in which participants have the opportunity to instantly receive a money loan with fiat money on bail of volatile crypto assets such as: Bitcoin Ethereum Ripple BitcoinCash Receipt of credit funds can be carried out in the following ways: In your wallet NEO Finance With the help of a payment card NEO Finance, with the possibility of cashing in any ATM Using the user's bank card.

2018-8-14 15:13


Can XRP Be Frozen? Ripple’s CTO Corrects Roger Ver

Over the past few months, debates have raged over whether Ripple can freeze funds. Roger Ver, Bitcoin Cash’s evangelist, exacerbated the issue last week during an interview in which he asked the audience to imagine a scenario in which, “Ripple winds up getting the mainstream adoption that everybody ends up using…it’s not that much better… The post Can XRP Be Frozen? Ripple’s CTO Corrects Roger Ver appeared first on UNHASHED.

2018-8-5 04:34


REMINDER: rippled Version 0.81.0 Validator Key Replacement

On Thursday, January 18, 2018, as described in the 0.81.0 release notes, the current validator keys on all five Ripple-operated rippled validator servers will be replaced. If you have been using the previous recommended default configuration and do not reconfigure your rippled server to the new recommended default configuration before that time, then your rippled … Continued The post REMINDER: rippled Version 0.81.0 Validator Key Replacement appeared first on Ripple.

2018-6-17 12:50


Growing Support for an XRP Symbol

Over the past month, we’ve watched and listened as a grassroots movement to create an XRP symbol has taken shape within the XRP community. In tweets, forums and blogs, members underscored that Ripple is just one entity using XRP to solve real business problems around the world, and in this way, using Ripple’s name or … Continued The post Growing Support for an XRP Symbol appeared first on Ripple.

2018-6-17 01:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Ripple Xumm получит новый секретный формат

#Ripple_News_на_русском #Ripple_XRP_Новости_сегодня Ripple Xumm получит новый секретный формат, по словам разработчика XRPL Labs Витса Винда. Выпускаемое приложение Ripple Xumm предназначено для хранения криптовалюты и фиата.

Ripple для благотворительности: Проект SK C & C

#Ripple_News_на_русском #Ripple_XRP_Новости_сегодня Ripple для благотворительности будет использоваться в рамках проекта SK C & C. Стратегии Ripple в целом направлены на то, чтобы сделать жизнь людей во всем мире лучше.

Ripple в децентрализации: Мнение Дэвида Шварца

#Ripple_News_на_русском #Ripple_XRP_Новости_сегодня Ripple в децентрализации блокчейна имеет достаточно значимое место. Позиция Ripple проявляется в том числе и в понимании теоретической стороны вопроса.

Ripple доминирует: xVia в MoneyGram

#Ripple_News_на_русском #Ripple_XRP_Новости_сегодня Ripple доминирует в экосистеме трансграничных платежей, по мнению ряда экспертов. Особенно четко аналитики стали видеть после заключения стратегического партнерства Ripple с MoneyGram.