the Despite the continued bear market ends is less than the adaptation of the Blockchain-technology. As the National Bank of Kuwait (NBK) on Thursday, may 27. December, announced, the Start-up Ripple in the future, the technology for cross-border payments in the Bank.
By Christopher clover
On 29. December 2018ShareFacebookTwitterLinkedInxingemail
The National Bank of Kuwait (NBK) is the largest financial services providers in the country. Founded in 1952, employs currently 6,000 employees and manages Assets to the value of 86 billion US dollars. According to information from the NBK is the first Bank in Kuwait, has implemented a money transfer product for international Live payments based on Blockchain technology RippleNet. NBK’s Direct Remit, the Name of the product, in order to accelerate according to the financial institution cross-border money transfers.
The Ripple-Innovation
Dimitrios Kokosioulis, Deputy CEO, Group Operations & Technology is of the view that this Service is a significant achievement for the customer. So be it any time of the day, money transfers within seconds. Kokosioulis also added that the NBK legends is currently an increased focus on innovations in the field of cashless payment transactions.
Marcus Treacher, SVP of Customer Success at Ripple, founded in the framework of the deal:
“We will continue to work with the NBK to connect with more RippleNet partners, so that your customers can quicker and cheaper in the whole world will pay.”
Outlook
Ripple self sees the payment system as a future global Standard for the inter-Bank traffic, to enable cost-effective, and trackable payments in real-time. The National Bank of Kuwait followed in order to 2018, including partners such as the Japanese Bank Mitsubishi UFJ Financial Group, or the Malaysian CIMB Group Holdings Bhd to RippleNet.
What applications should come from the Ripple range, open to both sides. It is questionable, moreover, whether Ripples xRapid-platform and the XRP-Token and will play in the concept of the Bank in the future, a role.