SAMA and Ripple have created a pilot program to provide support to KSA banks to use xCurrent, Ripple’s enterprise software solution that enables banks to instantly settle cross-border payments with end-to-end tracking.
The pilot program 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, banks can process cross-border payments in seconds, with end-to-end visibility over the journey of the payment.
SAMA becomes the first central bank to provide resources to domestic banks that want to enable instant payments using Ripple’s innovative blockchain solution.
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