Ripple has signed an agreement with the Saudi Arabian Monetary Authority (SAMA) to support banks in the Kingdom of Saudi Arabia (KSA) to explore Ripple\u2019s cross-border payments technology.<\/p>\n
Together, SAMA and Ripple have created a pilot programme to provide support to KSA banks to use xCurrent, Ripple\u2019s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking.<\/p>\n
The first of its kind to be launched by a central bank, the pilot programme will allow participating KSA banks to use xCurrent for cross-border payment payments. SAMA will support KSA banks with program management and training. With xCurrent, KSA banks can process cross-border payments in seconds, with end-to-end visibility over the journey of the payment, at a low cost.<\/p>\n
Dilip Rao, global head of infrastructure innovation, Ripple, said: \u201cCentral banks around the world are leaning into blockchain technology in recognition of how it can transform cross-border payments, resulting in lower barriers to trade and commerce for both corporates and consumers.<\/p>\n
\u201cSAMA is leading the charge as the first central bank to provide resources to domestic banks that want to enable instant payments using Ripple\u2019s innovative blockchain solution.\u201d \t<\/p>\n","protected":false},"excerpt":{"rendered":"
Ripple has signed an agreement with the Saudi Arabian Monetary Authority (SAMA) to support banks in the Kingdom of Saudi Arabia (KSA) to explore Ripple\u2019s cross-border payments technology. Together, SAMA and Ripple have created a pilot programme to provide support to KSA banks to use xCurrent, Ripple\u2019s enterprise software solution that enables banks to instantly […]<\/p>\n","protected":false},"author":18,"featured_media":22655,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1741,4115,106,809,16,791,79],"tags":[1707,790,4810,4811,4812,277,4813,4814],"class_list":["post-22654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking-finance","category-intelligent-technology-newsletter","category-mobile","category-more-news","category-regional-news","category-ksa","category-used","tag-blockchain","tag-ksa","tag-payments-technology","tag-ripple","tag-sama","tag-saudi-arabia","tag-saudi-arabian-monetary-authority","tag-xcurrent"],"acf":[],"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/22654","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/comments?post=22654"}],"version-history":[{"count":0,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/posts\/22654\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media\/22655"}],"wp:attachment":[{"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/media?parent=22654"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/categories?post=22654"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.intelligentcio.com\/me\/wp-json\/wp\/v2\/tags?post=22654"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}