Ripple Adoption Expands: Santander Bank Launches New Payment Corridor
Ripple remains in the headlines due to an important achievement.
The company has been working really hard in order to promote the adoption of its products and to boost XRP, and the latest success is definitely worth mentioning.
Santander adds new payment corridor
Santander Bank just added a new payment corridor to One Pay FX which is the company’s Ripple-powered digital banking app.
The app is supporting payments between the UK and Poland.
According to the Daily Hodl, Ripple’s Marcus Treacher addressed this new addition which allows Santander customers to move a maximum of 10k euros per day to and from the two countries with no transaction fees.
You may recall that One Pay FX uses Ripple’s payment messaging system xCurrent.
Santander launched the app on iOS last year and says that it allows customers to send money to 19 countries including the US.
Powered by Ripple & great to see this important payment corridor go live https://t.co/wVBJlQ1aZT
— Marcus Treacher (@marcus_treacher) July 14, 2019
Ripple’s tech has been powering Santander’s payments
Ana Botin who is Santander’s executive told Financial Times that Ripple’s tech was powering half of Santander Group’s FX payments by this January.
“With this new initiative that is already in place, we’re actually covering 50% of all the FX payments that the Santander Group does annually. And it works really well, because the rails that we’re using – which, as you say, we’ve collaborated with Ripple – we’ve been testing those for two years, actually with our own employees.”
She continued and said, “And it works. It’s safe. It’s fully compliant, and obviously we’ve made sure we comply with all local regulations. So you’re in safe hands.”
Ripple has marked a lot of achievements this year and all that enthusiasts and XRP fans are waiting is for XRP’s price to mirror these already.
The price of XRP is not tied to the one of Bitcoin, judging by the graphs these days.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.