the In the Middle East, takes on the adaptation of the Blockchain technology forms. As the National Bank of Kuwait announced that it will use in the future, Ripple technology for cross-border credit Transfers. Ripples XRP-Token remains, however, continues to the outside.
Sebastian wood
1. February 2019BTC$3.454,92 0.64%part Facebook Twitter LinkedIn xing mail
In December of last year, the National Bank of Kuwait (NBK) announced the use of the RippleNets in the daily payment transactions. So far, it was unclear, however, whether the Bank XRP will use for the settlement of Transfers and payments. As it’s now known that this does not appear to be the case. While the money transfer system, the Direct Remit of the NBK uses the RippleNet to Send and Receive money, plays the XRP-Token no major role in the day to day business of the financial service provider.
The Statement
can speak to The Bank in a brief Statement that the Direct-Remit-designed System as a fast money transfer service that enables customers to round-the-clock payments. The institution referred to the Service as a significant achievement, since your customers can now and within the shortest time of money transfers. The Service is only for payments from and to Jordan. The Bank is working, in the future, more countries and banks to connect to the System.
Marcus Treacher of Ripple pointed out that the national Bank of Kuwait is an important Partner in the Region. According to Treacher is very pleased that the NBK has begun to Live payments for their customers via the Ripple network. Treacher added that Ripple is working to connect the NBK with other RippleNet partners. So the company wants to provide faster and cheaper payments.
also Read: XRP: Ripple cooperates with one of the largest banks in Asia
Outlook
Ripple partnerships with a number of banks and companies from the Middle East have already been received. Payment system Ripple sees itself in the future, as the new global Standard, which is to give customers worldwide the opportunity cost of settling for cheap and trackable payments in real-time. XRP plays no role in the settlement of international payment transfers. It remains to be seen whether the future development of the Ripple network provides a comprehensive Integration of XRP, or whether the use is limited to the Ripple network.
