Kuwait Cetral Bank to Join RippleNet

National Bank of Kuwait online service customers try out this service
28 December 2018   824

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.

Coinone to Join RippleNet

Coinone and Ripple cooperation started in May 2018, and now exchange believes it will help to create wide range of blockchain based financial services
18 June 2019   305

The Korean exchange Coinone, a member of the Big Four of Asian cryptocurrency exchange platforms, has joined the RippleNet network, AMBcrypto reports. Through participation in RippleNet, Coinone will be able to use Ripple's xCurrent solution to provide interbank services to its customers.

Coinone CEO Shin Won Hee, in a conversation with local media, said that his company would rely on cooperation with SBI Ripple Asia in creating a wide range of financial services based on blockchain technology.

According to the media, Coinone was the first exchange in South Korea, which joined RippleNet. As part of the cooperation with SBI Ripple Asia, Coinone intends to “organize overseas remittance events for 3,000 new subscribers to the block chain overseas remittance service.”

Coinone and Ripple started working together in May 2018, when the company integrated xCurrent solution into its own payment service called Cross. According to updated data, customers of the exchange can send transfers to eight Asian countries through the system, taking advantage of reduced commissions.

Earlier this month, Siam Commercial Bank, the largest commercial bank in Thailand, said it would use XRP cryptocurrency in its operations, but later, for unknown reasons, refused this statement.