Ripple Further Expands Into India With Kotak Mahindra Bank, A Leading Private Bank, Joining RippleNe
Kotak Mahindra Bank, a leading Indian private sector bank headquartered in Mumbai, has announced its recent collaboration with RippleNet, Ripple’s enterprise blockchain network, aiming to improve instant international remittance. According to the official press release, Kotak Mahindra will leverage San Francisco-based Ripple’s blockchain technology, specifically its settlement solution called xCurrent, to speed up international transactions. Earlier, the process of a normal transaction required several days, but, with Ripple’s latest solution, the remittance time will be reduced to a few minutes. The bank’s customers will finally get an opportunity to conduct cross-border payments with end-to-end tracking at much lower costs. XRP, Ripple's cryptocurrency, is the 3rd largest cryptocurrency by market cap size. XRP is up 11.47% over the past 24 hours and is currently trading at $0.509378. It can be bought with fiat dollars, credit cards, or debit cards on cryptocurrency exchanges such as CEX.io and Changelly.