Not so long ago the British branch of the Banco Santander has released a new ad, which touted strategic Alliance, the Bank and Ripple. In the photo below indicated that international remittances are now made using the technology of the blockchain (transfers are available from 10 to 10,000 pounds) that connects to Apple Pay which uses Touch ID. It also indicates that time and cost is much lower in comparison with the traditional translation and the all new types of transactions, you can use Ripple technology.
It is important that Santander uses technology Ripple on a permanent basis. More than a hundred banks around the world announced plans to use the technology of the blockchain and Ripple products to handle its international payments, but most of them did not use all the features of the products Ripple.
Basically they test their solutions to see whether they fits them, and if they can be easily integrated into their existing services. In contrast Santander, which was one of the first to use decisions Ripple out testing.
For crypto enthusiasts and especially for fans of the Ripple is pretty big news. After all, every mention of the successful use of technology Ripple in the media, creating a demand for XRP, which leads to the growth rate. It is important to remember, given the fact that, despite the fact in what condition was the whole stock market for the last three weeks, XRP from Ripple keeps the best. Over the past few weeks, XRP has surpassed all, including Bitcoin. He even became the second largest digital asset by market capitalization. This stability arises, in particular, due to the use of company Santander XRP for the settlement of international payments.
Let us briefly recall the history of this partnership.
In March last year, Ripple Labs and Banco Santander announced that Spanish banking giant is experimenting with a few products, the liquidity provided by Ripple and tests programs based on the blockchain Ripple. This has forced Santander to look at many important factors for transfers in traditional system of payments performed much worse in comparison with the effect of the Ripple technology.
Head of innovation at Santander ed Metzger during the annual conference of the Ripple Swell told about how the Bank is going to use xCurrent from Ripple to improve the experience of customers with the company.
– We believe that financial services are moving into the world of open platforms, where companies cooperate with each other to provide excellent customer service to their clients, and this is the basis of what we are trying to achieve with OnePay FX (a joint mobile app Santander and Ripple. Approx. ed.) – said Metzger.
Metzger explained further that the app allows customers to process international transactions easier and faster.
– One of our clients was in Italy on vacation and parked in the wrong place. He had to pay a fine, but he didn’t have his Bank card. He was able to use our app to immediately pay the fine and stop towing of his car, said Metzger
That is why Ripple is important to have partners like Santander who are willing to use the latest technologies to solve problems in their field.
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