Connect with us


Ripple: Top SABB, Induslnd Bank officials elucidate uses of new remittance corridor between Saudi Arabia and India

Arijit Sarkar



Ripple announces new remittance corridor from Saudi Arabia to India
Credit: Pixabay

India remains on the sidelines of cryptocurrency regulation, with clarity on the subject eagerly awaited by many in India’s crypto-community. While the country is facing a potential blanket ban on crypto, Ripple shared a video hinting at India’s wider participation in the field. The clip was shared on Ripple’s official website, and detailed the launch of a new remittance corridor from Saudi Arabia to India.

In the video shared by Yoshitaka Kitao on Twitter, Saudi Arabia British Bank’s [SABB] representative, Ghada Al Jarbou, expanded on the bank’s vision for “a future proof technological solution” which was aligned with Ripple’s strategy for implementing “cheap, transparent and safe transactions”.

Al Jarbou noted that the bank had relatively low penetration in the regional remittance market. However, Ripple’s new announcement could be a boon for the market. This sentiment was shared by Amit Talwar, Induslnd Bank’s EVP & Head of Transaction Banking Sales, who noted that this was a “big opportunity for India”.

India’s position as a critical and highly desirable corridor for many financial service providers in the Middle East and North Africa [MENA] region was strengthened after it registered the highest remittance volume in the world in 2018 at $79 billion. Al Jarbou added,

“We [SABB] started this journey with India together to build a customer experience by providing transparency.”

Talwar also pointed out that the partnership was “one of the fastest bilateral tie-ups”, owing to the common willingness of the two countries and Ripple’s team. While SABB was implementing the technology as a means to enable transparent transactions, Al Jarbou said that the next step for SABB would be building up the volume of INR transactions, while adding new currencies to its remittance product.

For IndusInd, embracing Ripple has allowed the bank to be the first mover and get ahead of the change. By finding a committed partner, leveraging the power of Ripple’s technology and network, and adhering to the vision of becoming a leading remittance partner, Talwar believes that the bank is leapfrogging to the front of the market.

Subscribe to AMBCrypto’s Newsletter


Ripple’s XRP Ledger Dev Portal unveils updated version of WebSocket API Tool




Ripple's XRP Ledger Dev Portal unveils updated version of WebSocket API Tool
Source: Pixabay

Ripple XRP Ledger Dev Portal revealed an updated version of the WebSocket API Tool. The latest development in the Ripple ecosystem will enable users to directly communicate with rippled servers, which is responsible for powering the XRP Ledger Network.

An official post detailing the WebSocket update stated that the tool has been incorporated with unique functionalities to the existing tool structure. The “refreshed tool” which was launched as part of the recent site relaunch, allow users to choose which servers to connect, which will include public servers that Ripple operates, XRP Test Net servers or any server that the user locally runs on its computer. This feature is called Server Selector.

The refreshed tool provides options to connect to Ripple’s general-purpose public XRP Ledger servers, full-history public servers, Test Net servers, or to your own server running locally. This list can also change to provide more options in the future.

Another feature incorporated in the latest update is the new Permalink button. The button provides a link wherein users can use to share the current state of their inputs, which includes the request body and the selected server. The official post detailed that the Permalink feature is similar to other web tools such as JSFiddle or CodePen, which “provides a way to prepare a set of inputs and share it with others.”

Another feature is the curl Syntax Button, represented by “>_ ” icon. The button is designed to load a popup with the current inputs of the request box, which is converted into a JSON-RPC call which can be made with the curl utility.

To eliminate simple syntax errors, the upgraded tool has incorporated a feature called Error Highlighting, which as the name suggests, highlights lines with errors by placing red circled X marks.

The Message History Management will display all types of messages in one single stream, which maintains a history of the user’s previous calls until the page is closed or a different server is selected or the history is cleared by selecting the “Clear History” button. The blog further detailed,

“The amount of history the tool keeps at a time isn’t unlimited, which is another change from the previous version. By default, any time the tool receives a new message, it deletes any messages older than the most recent 50, though you can set this to be any amount you like.”

Subscribe to AMBCrypto’s Newsletter

Continue Reading