Kuwait Joins Ripple for Remittance Services

Kuwait Joins Ripple for Remittance Services

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It is a new development in banks and government adoption of cryptocurrencies. The National Bank of Kuwait, the NBK, announced it is joining Ripple’s blockchain based payment platform launch the “NBK Direct Remit” service.

In an effort to improve and optimize remittances, the bank “has become the first financial institution in the country to launch the “NBK Direct Remit” for cross-border live payments which use RippleNet’s enterprise blockchain technology solution to provide customers with a frictionless remittance experience and fast cross-border money transfer solutions,” says the press release.

According to the bank, the “NBK Direct Remit” service is a fast remittance solution available 24/7 for all customers. Dimitrios Kokosioulis, Deputy CEO- Group operations & Technology highlights the advantages of having an efficient service to make money transfers whiten seconds.

“The launch comes as part of our commitment to responding to the needs of our customers wherever they are around the world, providing them with safe solutions and a global presence in 15 countries,” says Kokosioulis.

The service is going to be available in Jordan and other countries within the next months.

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