Kotak Mahindra joins Ripple (available on Binance)Net: Yes, it’s true: another financial institution has joined the Ripple (available on Binance)Net. This is yet another example of how Ripple (available on Binance) is working towards solving real-world problems.

On Wednesday, Kotak Mahindra, an Indian bank, posted a press release, in which it stated that it has entered into a collaboration with Ripple (available on Binance).

Specifically, Kotak Mahindra will both be joining Ripple (available on Binance)Net and using xCurrent for issues associated with cross-border remittances.

Kotak Mahindra Joins Ripple (available on Binance)Net: What We Know

In the press release, Kotak Mahindra disclosed that it will be using Ripple (available on Binance)’s xCurrent in order to slash the time of its cross-border payments.

Usually, these remittance payments take several days, but by using xCurrent, it is possible for Kotak Mahindra to reduce that time to a matter of minutes.

Moreover, by using Ripple (available on Binance)Net and xCurrent, the Indian private sector bank will be able to instantly settle cross-border payments, as well as track the whole transaction process.

Is Kotak Mahindra Excited about Using xCurrent?

The bank had a lot of positive things to say about Ripple (available on Binance)Net and xCurrent, which is Ripple (available on Binance)’s settlement solution.

Speaking on the matter, Deepak Sharma, the CDO of the bank, said that “xCurrent ticks all the boxes,” and that it enables the bank to do two things, in particular:

1) Allow customers a “more transparent and efficient global payments service using blockchain.”

2) Ripple (available on Binance)Net expands Kotak Mahindra’s “payment network globally.” How? By allowing them “to connect with other members.”

How is XRP Doing on The Market Today?

As we all know, Ripple (available on Binance) and XRP are not the same things. However, members of the community have said previously that if Ripple (available on Binance), the company, does well, it should have a positive effect on XRP, the cryptocurrency.

So has it? Have the headlines of ‘Kotak Mahindra joins Ripple (available on Binance)Net’ allowed XRP to enter the green zone today?

Sadly, the answer is no. Ripple (available on Binance) (XRP) is struggling to hit the $0.50 price mark, currently selling for $0.46. This puts the coin down 1.07% in the past twenty-four hours.

Source: CoinMarketCapThe Takeaway

How did you react to the Ripple (available on Binance) news? Is it the proof that we needed that Ripple (available on Binance) is hard at work, whETHer they make an announcement every day or not?

Let us know in the comments below!