Santander uses Ripple technology to offer international payments
Summary
The Santander One Pay FX service, now available in the UK, Spain, Brazil and Poland, uses xCurrent blockchain technology from fintech company Ripple.It will enable customers to transfer the money on the same day and see the exact amount they will receive before they trigger the transaction.Santander said it is the first bank to roll out a blockchain-based international payments service to retail customers in multiple countries simultaneously.“Our goal is to help the thousands of people who use international payments services every day, and we will be adding more currencies and destinations in the coming months.In 2017, The National Bank of Abu Dhabi (NBAD) began using Ripple’s blockchain-based technology to transmit cross-border payments, and said it is the first in the region to do so.