Kuwait Central Bank to use Ripple for remittances

Pedro Gonçalves
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Kuwait Central Bank to use Ripple for remittances

The National Bank of Kuwait has launched a product they're calling "NBK Direct Remit," a blockchain-based product which uses RippleNet for cross-border payments from within the GCC region. The initial launch of the product only supports payments to nearby Jordan, but they intend to launch in at least 15 more countries soon. According to the bank's website, this product will help preserve NBK's dominance as the country's primary way of moving money. Established in 1952, the NBK is the la...

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