After the Santander Bank has announced the on the ripple technology based xCurrent Smartphone App for a long time, it is now. As the Santander Bank reported yesterday, a customer of the Bank can download the App from now on, and cross-border payments by means of xCurrent.
The App with the name of Santander, One Pay FX will be initially for private clients in Spain, UK, Brazil and Poland available.
In the coming months, the Bank would like to offer the Service in other countries.
International payments made via the App, to reach their destination within a day, while in the case of conventional international money Transfers, on average, three to five days.
Starting in the summer of 2018, the international money Transfers in real time, it should be sent. With the introduction of the Bank any country will offer, depending on the market different payment options.
Customers in Spain are able to send dollars to the USA and sterling to the UK. Customers in the UK can send euros in 21 European countries and the Dollar in the USA, and from Brazil and Poland pound after the UK sent.
The service is not to only have a speed advantage, but also the exact amount to show that the is received before the Transfer in the target currency.
Ana Botín, Chairman of Banco Santander said in the press release (freely translated):
“One Pay FX uses expect the Blockchain-based technology to provide a fast, simple and safe way for money transfer – value, transparency, trust, and Service, the customers of a Bank such as Santander.”
For the App Santander used Ripples xCurrent, a technology that uses not Ripples native crypto-currency, XRP.
The Santander Bank is about 133 million customers and 14,000 branches of one of the largest banks in the world. According to far-reaching the use and the use of the Ripple network could be a work.
While Santander is the first European Bank, which is actively engaged in the Blockchain technology of Ripple, a consortium of over 61 Japanese banks in Japan to the introduction of a similar App, with the private customer payments make can.
The price of Ripple is a result of a rapid capital inflow within the last 24 hours, with 18 per cent increased. The price for XRP-Token is just 0.50 Euro and reached a 7-day.
The market capitalization amounts to Euro 19.5 billion. So that Ripple space 3 of the largest crypto-currencies of the world.
The current Situation, even if they appear to be very positive and promising, should always be viewed critically.
Just as quickly as money flowed into the market, this can also be deducted. The next days will show whether this short-term Momentum will be of longer duration.
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