Ripple’s xCurrent adopted by India’s Kotak Mahindra Bank
Leading Indian private sector bank, Kotak Mahindra has announced its collaboration with Ripple in order to improve their cross-border remittances. The bank will be using the settlement solution of Ripple named xCurrent, which will enable them to decrease the time associated with remittance payments by several minutes.
The Chief Digital Officer of Kotak Mahindra Bank, Deepak Sharma says:
“We harness new technologies to simplify and enhance banking services for our customers. xCurrent ticks all the boxes, and enables us to offer our customers a more transparent and efficient global payments service using blockchain. Joining RippleNet also expands our payment network globally by allowing us to connect with other members.”
Ripple’s South Asia Managing Director, Navin Gupta says:
“The payments problem is a global problem, particularly for those in emerging markets trying to send regular, low-value remittances overseas. Kotak Mahindra Bank can offer its retail customers a step-change improvement in their inward remittance experience thanks to xCurrent, and we look forward to connecting them to other RippleNet members to expand their global remittance offering.”
Over 25 global financial organizations including the famous British bank, Santander UK uses Ripple’s xCurrent to enhance their customer experience when it comes to cross-border transactions.
Interesting news. Thanks for sharing.
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Look at this article where the team explains:
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https://medium.com/rawg/wp-bits-1-why-the-games-market-needs-rawg-ccf039c0bae7
The ICO will start in a short period and they are at the moment in pre-ICO phase. This is the site: https://token.rawg.io/. It's a video game discovery platform that converts your skills into goods and services (the site is already working, with more than 57,000 games in the database).
Have a look and get some information while doing your own research!
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Hud news for ripple users