Why is Kotak Mahindra Bank using Ripple's xCurrent for remittance payments into India?
Company-reported Published 1 min read
Short answer
Ripple announced on June 27, 2018 that Kotak Mahindra Bank will use xCurrent to power instant remittance payments into India.
The full answer
What did Ripple state?
On June 27, 2018, Ripple stated the following. Ripple announced on June 27, 2018 that Kotak Mahindra Bank will use xCurrent to power instant remittance payments into India. [1]
The source’s own words: “Kotak will use xCurrent to power instant remittance payments into the country.” [1]
Where does this fit on the site?
For the wider picture, see Do banks actually use XRP? and How far did Ripple’s ODL expand around the world?. Two related questions are How does SBI use XRP for Japan remittances? and Is Ripple’s On-Demand Liquidity service using XRP live for Japan to Philippines remittances?
What we know
- Ripple announced on June 27, 2018 that Kotak Mahindra Bank will use xCurrent to power instant remittance payments into India (Ripple, June 27, 2018).
In plain English
Ripple announced on June 27, 2018 that Kotak Mahindra Bank will use xCurrent to power instant remittance payments into India.
Sources
- Ripple Insights (ripple.com) — Ripple, 2018-06-27 Primary
Update log
- — Published.
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