Categories: Ripple

Ripple tech has no limitations, and is safe, says Santander Executive Chairwoman

Click here to view original web page at globalcoinreport.com

READ LATER - DOWNLOAD THIS POST AS PDF

Santander OnePay FX is a foreign exchange service which uses Ripple technology to make international money transfers within the same day. Santander’s blockchain-powered exchange is currently in 4 various countries – the U.K., Poland, Spain, and Brazil.

However, according to Ana Botin, executive chairwoman Santander group, they expect a broader roll-out in the coming months where the group will introduce the service to the additional countries for various small businesses. Also, there’s a possibility of extending the product’s availability to financial institutions.

Are There Any Limitations?

It is excellent to note that even though blockchain tends to be capacity-limited, the service has no limitation at all – thanks to the volumes that are available.

Foreign exchange transactions of the four countries that the app covers account for almost half the bulk of the bank’s retail consumers. Furthermore, for two years, the bank has been trialing the service among the staff in the U.K., and it has been perfect. That all is what the Executive Chairwoman of Santander Group, Ana Botín itself says.

#Ripple's blockchain based solution has no limitation. It works, it is safe and it is fully compliant.
Ana Botín – Executive Chairwoman of Santander Group#XRPcommunity #blockchain #crossborderremittances pic.twitter.com/XLomTKNVvu

Make bitcoins off the crypto blog. Get profit for each click!

Ana Botín further said that the blockchain based solution does not have any limitation and instead it works, is safe, and fully compliant. The executive chairwoman when addressing the safety concern, assured consumers of absolute safety as all the local regulations were complied with.

Undoubtedly, as it seems seeing the facts till date, the blockchain-based ways for payments are faster, more cost-effective, more efficient, safe, and secure. The fact that the bank plans to implement the technology into several markets by summer (pretty soon) makes the potential-experience precisely as what everyone expects from a global bank like Santander.

Now, no more waiting for more than three days or so for the transactions, thanks to transactions via the Santander One Pay FX. On the other hand, partnering and now getting praised by a giant bank like Santander is good news for Ripple as it helps to boost company’s and its cryptocurrency, XRP’s, market cap.

Not only has Ripple partnered with Santander bank but also with multiple banks as well as other financial institutions.

Ripple’s MoneyTap Around the Corner

Japanese fintech SBI Holdings made it public to launch an application based on Ripple technology named MoneyTap for mobile payments.

The app is meant to make all bank transfers easier, cheaper, faster, and flexible. While making the announcement, CEO SBI Ripple Asia Takashi Okita, stated that the MoneyTap would improve the payment infrastructure in Japan significantly.

How is Ripple’s XRP Doing at the moment?

Ripple (XRP) is among the most talked about cryptocurrencies nowadays, which is not a surprise given that it’s the highly real-life integrated crypto in the market at present. Additionally, it has been tested by several banks, financial services, and banking institutions for transactions on the global scale.

Currently, Ripple’s XRP sits at third place among the digital coins and trades slightly above $0.27. On Sunday XRP was at $0.2726 to mean that it has not recovered, but recovery is expected in next 24 hours; however, it might be limited as there is no momentum. The current value is still much far from Ripple’s all-time high earlier January this year when it hit $3.33 mark.

For the latest cryptocurrency news, join our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Flickr.com

Santander OnePay FX is a foreign exchange service which uses Ripple technology to make international money transfers within the same day. Santander’s […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Authorities Bust Illegal Crypto-Mining Lab In Nuclear Power Plant

Ukrainian news media is reporting that last month an illegal cryptocurrency mining operation was discovered and confiscated on the site… Read More

6 hours ago

Why Mark Carney Thinks The Dollar Can No Longer Be The World’s Reserve Currency

While Jerome Powell's highly anticipated Jackson Hole speech was, in the words of Brean Capital's Russ Certo "underwhelming and anti-climatic",… Read More

6 hours ago

Bitcoin Transactions Lead to International Drug Trafficking Ring’s Arrests

Criminals often express their favoritism toward cryptocurrencies. The perceived privacy and anonymity associated with this payment method makes for an… Read More

6 hours ago

Initiative to Curtail Negative Interest Rates Gains Traction in Germany

Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions… Read More

6 hours ago

Analyst Says Bitcoin Is About to Seriously Impress Us

As of late, bitcoin – the granddaddy of all crypto – is once again experiencing small bursts of bearish behavior.… Read More

6 hours ago

Gloomy Stock Market Faces New China Taunt: We’ll Get ‘Last Laugh’

A gloomy stock market must wrestle with China's latest taunt, in which it warned it would "fight to the end"… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More