European financial giant The Santander Group has launched a cross-border payment application based on Blockchain technology developed by Ripple.
Ripple cooperates with Santander on the new Foreign Exchange App reviewed by onlinebetrug
The Financial Times reported Thursday that the Spanish banking group, in partnership with Ripple, has developed an app called One Pay FX, which has been launched in four countries – Spain, the UK, Brazil and Poland. Read more about it here: https://www.onlinebetrug.net/en/
The app is a product of the ongoing partnership between Ripple and Santander Bank, which already invested in Ripple in 2015. The One Pay FX app is based on Ripple’s Distributed Ledger technology and was launched after two years of development. With this product, Santander will be one of the first banks to offer blockchain-based foreign exchange payments to its onlinebetrug customers.
The app was first tested in 2016 by Santander Bank staff in the UK and is based on Ripple’s xCurrent platform. It is a distributed network created to facilitate cross-border transactions. However, neither X-current nor the One Pay FX app uses the crypto currency XRP.
The Santander Group expects to extend the service to other countries in the near future and is considering making the service available to other financial institutions. Transactions from the four countries covered by the app account for almost half of Santander’s users, according to the original Financial Times report. The announcement comes just days after Ripple invested $25 million in a fund to develop blockchain technologies.
Bitcoin code reacts violently
The Ripple share price benefited from Santander Bank’s news, allowing the Bitcoin code price to rise by more than 20 per cent. The percentage increase was a few percentage points higher than the review of the Bitcoin code and Ethereum.
Current Ripple Price
XRP – Token no security
The debate about whether XRP should be considered a security or not continues after the president of Coinbase made the implication in a recent interview.
Asiff Hirji told CNBC’s Fast Money panel that Coinbase currently lists all crypto currencies for which there is clear regulatory certainty – XRP is not one of them.
The question of what is considered security in the crypto currency market is still unclear, as the SEC postpones an official distinction.