Santander bank uses Ripple (XRP) for 50% of International Transfers
Santander’s OnePay FX mobile app is growing its momentum more with each passing day. This is also thanks to the Ripple team who is showcasing a live demonstration of how simple it is to use this app.
The demonstration proves that Ripple is a viable choice
From the beginning, the UI is straightforward to use, and the app allows you to pink between US dollars and euros to perform your transaction. After you input the recipient’s details, the user uses Apple Pay to make a selection on which credit card to use in order to complete the transaction. After the selection is made and the user presses “pay” it will take a few seconds to complete the deal from the U.K. to the U.S.
The demonstration can be found on YouTube, and the app is available in the Apple App Store. This proves that Ripple and its xCurrent and Santander’s OnePay FX managed to make international transfers much safer, cheaper and faster. The use of OnePay FX will definitely grow because more and more users demand efficiency through fintech.
Santander rolled out OnePayFX with the customer’s need in mind
Ana Botin, Santander Group’s Executive Chairman said that the Ripple-powered blockchain carries 50% of the bank’s annual international deals.
The evidence presented in the video mentioned above show that Ripple products are working efficiently. Ripple CEO Brad Garlinghouse was adamant that BTC’s dominance days in the crypto market are coming to an end. His reason is the fact that Bitcoin only dominates due to speculation by users in the crypto space. He says that the tide will turn for Bitcoin when its users eventually embrace the use cases of Ripple and more cryptos that solve real-life issues. He believes that a correction is on the way that will drag Bitcoin down.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
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.