Ripple’s products are becoming more and more appreciated by the big players in the financial industry in 2019 as well.
2018 was a successful year, and this one announces to be even more.
One Pay FX brings faster speeds than other competitors
Banco Santander just reported that Ripple-powered payments application One Pay FX is offering its customers the ability to send cross-border transactions at much faster speeds compared to the competitors in the field.
During the Santander International Banking Conference in Madrid, executive chairman Ana Botín addressed the excellent performance of the new mobile payments application which runs on Ripple’s blockchain software solution xCurrent.
“You can do FX transfers, real-time, between the UK and continental Europe. And you can do Poland, Brazil, and Chile – through Santander – for the same cost as TransferWise. And that is the reason why we need to really think about what is real reciprocity. The devil is in the details and the timing,” they noted.
By comparison, the instant payments which are being processed by TransferWise, are only delivered within the UK using the instant EPS payment system.
The company’s explainer details that payment delivery in other locations in Europe and also across the world will definitely be much slower.
Santander and TransferWise can help change international payments
Santander and TransferWise are working to transform the traditional evolution of international payments.
These sometimes needed even two to three days in order to be able to complete a transaction.
Santander launched One Pay FX in April and offered millions of the customers that it has in Europe access to real-time cross-border payments.
Ripple has been trying to address all the shortcomings that have been flawing SWIFT which has been the traditional payments system preferred by various banks for a long time.
Ripple and SWIFT will address the critical issue of cross-border payments next month in an epic debate on the future of the financial system.
Who brought home the bacon in 2018? We've picked out 11 of the best ICOs from 2018 in terms of their return....
| November 1, 2018
Monero (XMR), as well as other significant cryptocurrencies in the market, experienced a very tough period c...
| September 12, 2018
When you need to make a crypto to crypto exchange, you usually browse the Internet and see a huge number of ...
| May 9, 2018
We are standing on the cusp of a new period in global finance. The potential for blockchain and shared hyper...
| April 25, 2018
With cryptocurrency adoption ramping up in enterprise and merchant applications, much of the focus has been ...
| April 22, 2018