American Express and Santander partnered with Ripple to accelerate cross-border transactions between the USA and the UK with blockchain technology!
Now, payments made by American Express customers through the FX International Payments platform, Ripple’s blockchain network RippleNet
Marc Gordon, Executive Vice President of American Express, said in a statement today:
This collaboration with Ripple and Santander will help us advance our blockchain and transfer money around the world. It will enable us to improve our method.”
Jose Luis Calderon, head of global transaction banking at Santander:
“Blockchain technology creates a new channel between the US and the UK. It also provides a crucial opportunity for global payments.” Commented on.
Thanks to the blockchain technology, all parties involved in the cooperation will be able to track the status and cost of transactions.
Ripple CEO Brad Garlinghouse said that Ripple blockchain’s financial He said that it will enable service companies to transfer money in “real-time”:. Transactions that used to take days to complete will now be completed in real time.”
Both American Express and Santander said that the blockchain project could expand worldwide
Cryptocurrency Will Be Included Later
Ripple said it could speed up payment transactions with its own cryptocurrency, XRP.. In addition, he stated that XRP could be used in partnerships with banks and other financial companies in the future.
Ripple’s general manager of strategic accounts, Marcus Treacher, in an interview with CNBC:
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“The technology we developed has become separate from cryptocurrency or token. So banks can use Ripple to directly convert any fiat currency to another fiat currency without the need for a blockchain-based currency.”
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