Investing.com – Amid the uncertainty of the cryptocurrency slump, comes the certainty of blockchain technology.
The launch of Banco Santander (MC:)’s Ripple-based international money transfer payment service shows both the commercial viability and
transformational power of blockchain distributed ledger technology.
The service, called Santander One Pay FX, facilitates same-day currency exchange for retail customers in four countries —
Spain, the UK, Brazil and Poland. The simultaneous, multiple country launch is the first of its kind. The smartphone app service
will be expanded to other countries in the coming months.
A payment app developed by and a consortium of Japanese banks is scheduled to launch in the fall.
Ripple is also partnering with a number of other financial firms, including American Express (NYSE:) and UBS.
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