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Banco Santander Reveals Its Expansion Plan For XRP Cryptocurrency-Powered Payment Platform

A Spanish multinational financial service provider, Banco Santander has recently declared its new plan of using Ripple (XRP) cryptocurrency-enabled OnePay FX for conducting international payments with the help of xCurrent. The tie-up between Banco Santander with Chris Larsen’s Ripple Labs is aimed to benefit the customers including the entire ecosystem as a whole.

Although the exclusive partnership between Banco Santander and Ripple Labs was announced in March this year, still the sophistication their joint work was not brought in front of the crypto enthusiasts. Since the declaration, Ripple Labs went on saying that its Spanish partner has been experimenting with RippleNet alongside other liquidity products available on its blockchain network.

As far as XRP cryptocurrency-powered OnePay FX is concerned, this new app will enable retail customers in various locations like the United Kingdom, Poland, Spain and Brazil to accomplish international transfers. The customers in those countries can make the transfer with the use of OnePay FX on the same day or at least by next day. Whereas, 3 to 5 days on an average will be needed for conducting traditional wire transfers.

“I need to know where my money is going and how. If a service tells me how much the entire process is going to cost me, they will win my trust. That is what we are trying to do with Ripple,” the chief technology officer at OnePay FX, Ed Metzger said at the recent Ripple’s Swell event that took place between October 1 and 2 in San Francisco, as reported on AMB Crypto.

The financial services are moving to a world of open podiums where the brands team up to give excellent customer services to their users. Due to this huge change, what Metzger revealed, Banco Santander is trying to incorporate many facilities at OnePay FX app, Ethereum World News noted. According to Metzger, his company’s use of Ripple’s technology earlier had improved customers’ lives that comprised about 140 million individuals across retail and commercial fields globally.

The popularity of Ripple is accelerating these days immensely. Almost 10,000 people recently signed a petition to make XRP the official cryptocurrency of the Tokyo Olympics in 2020. In another sign of Ripple’s growing popularity, its co-founder, Chris Larsen has been ranked as the top 400 wealthiest people by Forbes recently.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Having over 11 years of experience in Journalism, Subhro has become fascinated by cryptocurrency over the last couple of years.

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