Santander to utilize Ripple for cross-border transactions

European banking giant Santander has plans to use Ripple's xCurrent platform to power their international transaction
26 March 2018   2081

Several banks across the globe are trying out the Ripple to power their transactions. And now Santander joins them.

Earlier this year Santander CEO Nathan Bostock confirmed that the company was testing Ripple's core platform to reduce transaction times, and now the plans expand to full utilization of RippleNet and xCurrent to speed up international payments.

The newest service has been in testing for over eighteen month, according to the employees. And now, the new app will allow for the cross-border payments to be settled in less than twenty-four hours and all the parties involved will be able to see the processing fees right from the beginning.

The primary focus on the app's launch will be the bank's clients in Europe and Southern America, with particular attention on Spain, Brazil and the United Kingdom. Also, together with the app the new wallet, personal finance manager and interactive help-desk will be debuted.

The launch is planned somewhere in the first half of the year, according to the Ripple executive Brad Garlinghouse.

Ripple to Move 1B XRP From Escrow

The community has reacted quite violently; at the current rate, 1B XRP is $225 000 000
02 December 2019   313

California fintech startup Ripple unlocked another $ 225 million XRP tokens from escrow account.

After the first transaction, several tranches totaling 40 million XRP went to unknown addresses. As you can see from the comments above, the community is in mixed feelings.