NBK Direct Remit taps RippleNet tech

The National Bank of Kuwait (NBK) has launched a cross-border remittance service, NBK Direct Remit, based on RippleNet’s blockchain technology.

Dimitrios Kokosioulis, Deputy CEO, Group Operations & Technology, says: “This service is a significant achievement as it enables our customers to make money transfers within seconds, easily and at their convenience anytime of the day. 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.”

“NBK is an important partner in the region, and we’re excited that they have begun moving live payments across our blockchain network on behalf of their customers,” comments Marcus Treacher, SVP of Customer Success, Ripple.

“We will continue to work with NBK to connect them to more RippleNet partners so their customers can make quicker, cheaper payments to anywhere in the world.”