Ripple, Santander Launches Mobile App For Global Payments
Ripple has launched an application with Banco Santander, the largest bank in Spain, to allow fast and easy international currency transfers. The app is called One Pay FX and uses Ripple blockchain technology to allow transfers between currencies in Europe and the United States.
Banco Santander SA is the largest bank in Spain and the biggest international bank in Latin America as well. The Bank concentrates its activities in Andalucia, Castilla-Leon, Catalonia, Madrid, Valencia and Cantabria.
The Bank offers banking services for individuals and companies, leasing, factoring, stockbrokerage and mutual fund services.
Santander joined Amadeus Capital Partners to inject another $5 million into Creditas, completing a $55 million Series-C funding round that was led by Sweden’s Vostok Emerging Finance (VEF)
Founded in 2012, Creditas is a secure digital lending platform, whose mission is to reduce the number of Brazilian consumer debt burden by offering consumer loans at more affordable rates by using borrower collateral like homes and autos.
In its initial stage, One Pay FX can be used by customers in the U.K. and Spain to transfer money from there to destinations in Europe and the U.S. Customers in Poland can only transfer to the U.K.
“Transfers to Europe can be made on the same day and we are aiming to deliver instant transfers across several markets by the summer,” stated Botin. The app was launched last week and the price of a ripple coin spiked in response as a sign of renewed trader confidence in its blockchain.
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