🇮🇳BRICSAnnounced. The strongest remaining claim is announced, paused, or unclear. It may be inactive.
Indian private bank. June 2018 primary: joined RippleNet and would use xCurrent for inward remittances. Also listed on AWS’s Ripple case study. Not evidence that Kotak’s later RBI Digital Rupee wallet uses XRP.
Named products / networks / assets: RippleNet · xCurrent
Claims and evidence
Each claim is stored at project level. Integrated means a capability was implemented; live requires evidence of actual operation.
Ripple customerAnnounced
On 26 June 2018 Kotak Mahindra Bank announced it had joined RippleNet and would use xCurrent to provide real-time inward cross-border remittances, reducing average settlement from days to minutes with end-to-end tracking.
Geographic basis: India receiving. Sending countries were not enumerated in the cited release. · Activity: India
Uncertainty: Community posts claiming Kotak uses XRP for India’s CBDC are not supported. Kotak’s Digital Rupee (e₹) app is an RBI CBDC distribution wallet.
Company announcement
Kotak Mahindra Bank to Accelerate Cross-Border Remittances with RippleNet
Kotak Mahindra Bank · published 2018-06-26 · checked 2026-09-09
Kotak said it joined RippleNet and would use xCurrent for real-time inward cross-border remittances, cutting settlement from days to minutes with end-to-end tracking. CDO Deepak Sharma is quoted. XRP is not mentioned.
xCurrent / RippleNet. Community posts that Kotak uses XRP for India’s CBDC are not supported by this primary. Kotak later offered RBI’s e₹ wallet as a distribution bank; that is RBI CBDC, not XRP.
Amazon Web Services · publication date not stated · checked 2026-09-09
AWS lists RippleNet members including Santander (USA), Canadian Imperial Bank of Commerce, Kotak Mahindra Bank, Itaú Unibanco, IndusInd, InstaReM, BeeTech, Zip Remit, LianLian, RAKBANK, IFX, TransferGo, Currencies Direct, Airwallex, SEB, SBI Remit, Siam Commercial Bank and Krungsri.
Vendor case-study list, undated. Useful corroboration of names Ripple has published; not a current live-status census.
The named product is xCurrent on RippleNet. The 2018 Kotak release does not mention XRP.
Geographic basis: India. · Activity: India
Company announcement
Kotak Mahindra Bank to Accelerate Cross-Border Remittances with RippleNet
Kotak Mahindra Bank · published 2018-06-26 · checked 2026-09-09
Kotak said it joined RippleNet and would use xCurrent for real-time inward cross-border remittances, cutting settlement from days to minutes with end-to-end tracking. CDO Deepak Sharma is quoted. XRP is not mentioned.
xCurrent / RippleNet. Community posts that Kotak uses XRP for India’s CBDC are not supported by this primary. Kotak later offered RBI’s e₹ wallet as a distribution bank; that is RBI CBDC, not XRP.
Later commercial status was not independently confirmed. The named product is xCurrent.
X-Index (xindex.info) is an independent community research directory. v0.9.9 adds Documents from a user-supplied PDF list: ECB 2015 virtual-currency analysis, Ripple’s 2021 House of Lords evidence, Palau PSC press, a World Bank CBDC energy note citing Ripple’s XRP table, and academic papers (Jani, Mokeeva/Novosibirsk lab cite, Firouzi, etc.) labeled Academic — not institutional endorsement. A 2018 student overview is not a bank customer. v0.9.8 adds Shariyah Review Bureau’s March 2022 Sharia Analysis of Ripple/XRP (alongside the existing XRP Compliant screen) and Ripple’s 2023–2024 seat on the BIS CPMI PIE task force — a historical industry-committee membership, not a current listing and not XRP as a G20 rail. v0.9.7 adds a Documents catalog of institutional and business pages that actually name Ripple, XRPL, or XRP — a caption or screenshot is not the source. Flags are headquarters plus sourced activity countries. A BRICS or OPEC mark is country membership, not a bloc partnership. A past announcement is not a current-day connection. Counts are documented organizations in this database, not exhaustive national adoption. Last updated 2026-09-09. Not affiliated with Ripple.
