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National Bank of Kuwait Launches Ripple-Based Cross-Border Payments Product

The National Bank of Kuwait has launched a remittance product for cross-border live payments based on RippleNet’s blockchain technology. The National Bank of Kuwait (NBK) has launched a cross-border remittance product based on RippleNet’s blockchain technology, according to an announcement published Dec. 27. Established in 1952, the NBK is the largest financial institution in terms […]

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Bloomberg: Facebook is Developing a Cryptocurrency for Transfers in WhatsApp

Sources familiar with the matter told Bloomberg that Facebook is developing a cryptocurrency for transfers in WhatsApp. Facebook is reportedly making a cryptocurrency for users of the messaging service WhatsApp, Bloomberg reports on Dec. 20. The token will purportedly be used for money transfers made within the app, and will focus on the remittances market […]

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Poll: Interest in Crypto as Payment Method Makes Small Inroads Among Moscow Residents

A recent poll of Moscow residents found that, among respondents who use non-cash payment methods, five percent expressed interest in using cryptocurrencies. Five percent of Moscow residents who use non-cash methods of payment are open to using cryptocurrencies, according to a recently conducted survey, Forbes Russia reported Nov. 13. The investigation into the e-payment market […]

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World Payments Report 2018: DLT Falls Short of Meeting Financial Market Demands

The World Payments Report 2018 has found that blockchain is currently not able to meet the requirements of the financial market. The World Payments Report 2018 published Oct. 16 has found that distributed ledger technology (DLT) is not currently capable of meeting financial market demands. The annual report was jointly compiled by consulting and technology […]

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Hackers Breach Smart Contract on Ethereum-Based Adult Entertainment Platform SpankChain

Blockchain-based adult entertainment platform SpankChain lost $38,000 in ETH in a hack of its payment channel smart contract. Ethereum-based adult entertainment platform SpankChain has suffered a smart contract security breach that led to loss of around $38,000, the firm reported on its Medium page Oct. 9. The hack, which purportedly took place Oct. 6, was […]

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Dubai Department of Finance Launches Blockchain-Based Payment System for UAE Gov’t

Dubai Department of Finance has launched a blockchain-powered payment system geared towards government entities in collaboration with Smart Dubai Office. The Dubai Department of Finance (DoF) has partnered with the Smart Dubai Office (SDO) to launch a blockchain-powered payment system. The news was reported on by a local news site Zawya, September 23. The new […]

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Ripple Could Launch xRapid Solution ‘In the Next Month or So,’ Says Exec

A Ripple exec told CNBC that the company could launch a commercial version of its payment platform xRapid “in the next month of so.” Ripple could launch a commercial version of its payment platform xRapid “in the next month or so,” CNBC reported September 17. Head of regulatory relations for Asia-Pacific and the Middle East […]