Ripple (XRP) to provide the first blockchain-based payment solution for Kuwait Finance House – Crypto Recorder


While Ripple XRP is enjoying some free time from the bear market, we can see Ripple's currency rising above 7% compared to Fiat in the last 24 hours. In addition to embracing the positive trend of the market, Ripple has been repeatedly cited by Kuwait Finance House in an official version on the supply of the first blockchain-based transaction system for Kuwait.

Ripple is known with blockchain-based products offering fast and secure payments with low commissions, despite being ranked as the 3 rd main currency in accordance with its market capitalization of over 12.3 billion of dollars.

Kuwait Finance House uses the Ripple XRP system for fast transactions [19659004] Integration and mass adoption are one of the main objectives of most cryptocurrencies. Ripple XRP could be one of the main blockchain bases in this domain, since Ripple payment systems are already used and mostly successfully tested by financial giants such as SBI Group, Santander Bank, Western Union and other financial and banking institutions and services .

One of the latest results in this field was made with the latest announcement provided by Kuwait Finance House (KFH), stating that KFH will use Ripple's block-based system solution for fast transactions.

In an official promotional video published by Kuwait Finance House, originally created for the targeted audience in Kuwait, KFH showed the efficiency of Ripple's cross-border solution for timely transactions, while underlining that the first blockchain-based transaction made in Kuwait was powered by Ripple Technology.

needless to say, a huge step forward towards the further adoption of Ripple technology, which is proposed as "a frictionless experience in the cross-border transaction sector."

In the video mentioned above, the Kuwait Finance House added that the first transaction was made with KSA Bank as beneficiary.

Ripple XRP System to Go Live in Kuwait

Kuwait Finance House also added that the Ripple solution for cross-border payments must be tested for complete functionality and efficiency, while the final version of the system solution must be sent to Kuwait Central Bank after quality control has been marked as complete.

In the spirit of revolutionary cross-border payments in Kuwait, KFH has announced that they will join Ripple Net, a program designed by the Ripple Foundation to encourage the development of Ripple-based systems and solutions.

O In the day before the announcement announced by the Kuwait Finance House, Ripple announced the addition of three exchange platforms to Ripple Net, stating that Bittrex, along with and Bitso, became the & # 39; Ange exch of choice for Ripple while joining Ripple's growing network of partners and supporters.

Bittrex will support xRapid payments for the United States, while Bitso and will support the Ripple foundation in the Philippines and Mexico.

Ripple Foundation is targeting the Chinese market

Ripple XRP announced on August 15 th in an official interview that the foundation is planning to enter into Chinese market with Ripple solutions for cross-border payments.

The vice president of strategic accounts in Europe at Ripple, Jeremy Light, said that Ripple is planning to enter the Chinese market with distributed ledger technology in order to make cross-border payments faster even in this country. [19659002] Ripple Foundation has already made the first move to approach the Chinese market by acquiring a partnership with the Chinese payment service, called LianLian, sealing the partnership months ago. 59002] In addition, Ripple had additional integrations of Ripple technology with Tencent, one of China's leading technology companies, enabling blockchain-based digital billing for the United States, China and Europe.

Spreading influence in China should bring more impetus to the foundation of Ripple while other companies and companies could join the Ripple network for improved adoption of blockchain-based solutions.

Ripple XRP in the market

While Ripple is trying to penetrate the Chinese market, despite being adopted as payment solution in Kuwait, we can see the XRP rise by more than 7% during the last 24 hours.

After a couple of difficult days with frequent changes in market performance, most currencies suffered from the market crash, including Ripple's XRP which lost about -8% in last 7 days.

With the latest growth against the bear market, XRP is currently trading around the price of $ 0.30 as it moves towards adoption and mass integration with solutions xRapid and Ripple system for international payments.

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