Kuwait Chooses Ripple’s xRapid for Cross-Country Payments

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

Fri, 17/08/2018 - 10:29

Kuwait Chooses Ripple’s xRapid for Cross-Country Payments

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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.

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.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets. His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.