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Kuwait Chooses Ripple’s xRapid for Cross-Country Payments

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Fri, 17/08/2018 - 10:29
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Kuwait Chooses Ripple’s xRapid for Cross-Country Payments
Cover image via U.Today
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Back in late May, Kuwait Finance House (KFH) was reported to join the Ripple network. However, the bank did not yet choose between xRapid and xCurrent. Now the mind is made up, the bank is to go forward with xRapid for its cross-border operations.

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KFH is the first local bank to start working in accordance with Sharia law and is also a member of the local stock exchange. KFH is also the first country’s institution to test Ripple-based DLT transaction, so now it plans to integrate the xRapid system for fast and secure transnational payments in the future.

However, Ripple does not confirm this report.

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

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