KFH succeeded in executing the first financial transfer in Kuwait through Blockchain using Ripple platform to a beneficiary account at Al Rajhi Saudi Bank for trial and testing. Al Rajhi Bank was the first in the Kingdom to execute a financial transfer using Blockchain as part of the Saudi Arabian Monetary Authority Cross-border payment settlement program with Ripple. This experience comes as part of KFH's ongoing preparations for the launch of the service, following the completion of the project and the approval of the Central Bank of Kuwait, which is keen to ensure the highest security and technical standards associated with such services."
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