Ripple (XRP) – The CEO of UK’s Santander bank has aired that in few months his firm is introducing an app that will make it the first large retail bank to carry out cross-border payments at scale with blockchain technology. The idea is going to rely solely on Ripple’s xCurrent and RippleNet.
According to Business Insider, the Santander’s UK CEO, Nathan Bostock made this confirmation at an International Fintech conference in London on Friday, saying “this spring, if not one beats us to it, we will be the first large retail bank to carry out cross-border payments at scale with blockchain technology.” However, Bostock did not state the date that the app would be launch. There has been no comment from the spokesperson for Santander since the information was relayed to the globe.
Remember that Santander, in May 26th, 2016, according to Ripple, announced that they are the first U.K. bank to introduce Ripple’s blockchain technology that will enhance international payments through a new app rolled out as a staff pilot, though they intended expanding the application for individual use.
Santander says the app once downloaded by their staff, the next thing is to feel necessary information, then they can make transactions without delay. The staff app is integrated with Apple Pay, and can now be used by users to transfer around £10 and £10,000 with payment available in GBP to EUR and USD.
During the early stage of the app, any transaction made in EUR can be delivered to 21 countries and at the same time, US dollar payments are delivered to the U.S. In an earlier announcement, Sigga Sigurdardottir, Head of Customer and Innovation at Santander, maintained that the app was based on Ripple’s tools. “The need for finance has evolved from providing a physical pound in your pocket or card in your purse, where you pay at a till, to being seamlessly integrated into a new, always on, connected lifestyle. Read more from theindependentrepublic.com…
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