Blockchain, Ripple XRP

Santander uses Ripple’s xCurrent to extend Latin America corridors

Ripple’s xCurrent is being used once again by Santander to expand its operations worldwide. The newest plans from the Spanish Banking Group is now targetting Latin America.  By using Ripple’s technology, the bank will be building a payment corridor that is going to allow Latin American customers to send money to the US in a matter of seconds.

One Pay FX, the app built by Santander to provide the service, was only used by Brits and Spanish clients until this moment. Nonetheless, the situation may change in the months to come, as Brazil, Uruguay, Chile and Mexico will be the first one in enjoying the innovative payment facility.

Volume from the app has tripled since Jan 2019. The growth shows that people are getting attracted by the faster method of sending international transfers. The service has transformed a painful experience with traditional banks into a highly convenient and stress-free one.

Image licensed via Pexels

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