Kuwait Cetral Bank to Join RippleNet

National Bank of Kuwait online service customers try out this service
28 December 2018   3365

The National Bank of Kuwait (NBK) began using blockchain solutions from California-based startup Ripple to transfer funds to Jordan. However, it is unknown wheater it is xCurrent and xRapid.

National Bank of Kuwait online service customers can use this service. According to the NBK, this offer is an “innovative, secure and reliable service in the field of money transfer”.

Note that in the future the NBK plans to make remittances using Ripple technology to other countries.

Last year the Central Bank of Kuwait banned the banking sector and companies under the supervision of the regulator to trade Bitcoin.

DeeMoney to Join RippleNet

RippleNet consists over 300 companies around the world, that can perform almost instant exchanges thanks to this network
19 March 2020   287

Thai fintech company DeeMoney became the first non-state company in the country to use RippleNet technology for fast international payments.

More than 300 financial institutions around the world are already members of the RippleNet payment network. The exchange of payments between these organizations occurs almost instantly.

Ripple is currently at the forefront of technology and compliance regulations[…]This brings in finance in Thailand by bringing a new level of efficiency and accessibility for cross-border transactions to and from the nation.

 

Aswin Phlaphongphanich

CEO, DeeMoney

According to Marcus Treacher, senior vice president of customer service at Ripple, there is a real revolution in Thailand's banking industry.

By being the first non-bank institution in Thailand to use RippleNet, it redraws the boundaries and rules of engagement by providing efficient international transfers at low fees and competitive rates. 

 

Marcus Treacher

SVP of Customer Success, Ripple

Currently, DeeMoney is already accepting payments in Thailand using RippleNet, and when the second phase of cooperation is launched, the company will be able to send funds abroad using the blockchain system.