Bank Santander will launch international remittances together with Fintech Ripple in the near future, confirmed the General Director of the Bank in the UK, Nathan Bostock. The app, created in partnership with Ripple will be available for customers in Spain, UK, Brazil and Poland.
– This spring we will become the first major retail Bank, which will launch cross-border payments in the same scale with the blockchain technology, said Nathan Bostock international Fintech conference in London on Friday. A specific date for the launch of a new product is still not reported.
Note, in most international transfer systems used by various mediators, of which the final amount is often less sent. In most cases, users cannot accurately assess the full value of the transaction. The new app will also allow Bank customers to know the exact cost of the transfer.
Add, Santander is not the first year cooperates with Ripple: so, in 2016, the company tested payments based on technologies Ripple among its employees. In the beginning of 2018 Santander has already made an announcement about the upcoming app launch, promising to open access to it in the first quarter of this year.
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