Kotak Mahindra will use Ripple for Instant International Remittance

in mgsc •  7 years ago 

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In an announcement , Kotak Mahindra Bank revealed it use San Francisco-based Ripple’s blockchain technology to power inward international remittances in India, the world’s largest remittance receiver. Specifically, Kotak will use Ripple’s enterprise blockchain software

Recognizing India as a priority market with over $70 billion in inward remittances in 2017, Ripple expanded into the country by opening an officein Mumbai, the country’s financial capital.

Note- the blockchain solution does not use Ripple’s token cryptocurrency XRP, which powers a separate product inxRapid..

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7 years ago by

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