Santander Chooses Ripple (XRP) for 50% of Its International Transfers
The momentum for Santander’s OnePay FX mobile application is growing by the day with the Ripple (XRP) team showcasing a live demonstration on how simple it is to use the app. From the get go, the user interface is simple with the app letting the user pick between US Dollars and Euros as the form of currency to perform the transaction in. After inputting the recipient’s details, the user now uses Apple Pay to make a selection on which credit card to use to complete the transaction. Once the selection is made and the user presses ‘pay’ it takes a few short seconds to complete the transaction from the U.K to the United States as demonstrated.
The complete video of the demonstration can be found on youtube. The App is currently available in the Apple App Store for free downloads.
The demonstration proves that Ripple (XRP) via its product of xCurrent, and Santander’s OnePay FX, have managed to make international transfers a safer, faster and cheaper affair. In a world where time is more valuable due to our busy schedules, the use of OnePayFX is sure to grow as more mobile users demand efficiency through fintech and with many of us having friends and family all over the globe.
It is with the customer needs in mind mentioned above, that Santander has rolled out OnePayFX to Euro Zone countries and the United States. Santander Group’s Executive Chairman, Ana Botín was quoted as earlier saying that 50% of the bank’s annual international transfers are currently being carried by the Ripple-powered blockchain.
The above evidence of Ripple products working in an efficient manner is the reason Ripple CEO, Brad Garlinghouse, was adamant that the days of Bitcoin (BTC) dominance in the crypto-market are numbered. His reasoning was that BTC only dominates due to speculation by users in the crypto-verse. The tide will turn for BTC when the same users embrace the use cases of Ripple and other cryptocurrencies that solve real life problems. What will then proceed is a massive correction with the latter cryptocurrencies flippening Bitcoin.