Banking group Santander has submitted a blockchain-application for cross-border payments, which is based on technology developed by Ripple xCurrent. It is reported by CoinDesk, citing the Financial Times.
The app, called Pay One FX will be available this week for customers of the Banco Santander from Spain, UK, Brazil and Poland.
New product development lasted about two years. Even in 2015, Santander, through its venture capital division InnoVentures funded Ripple $4 million, Then, in the course of the Series And the company has managed to attract a total of $32 million investment.
Note that in the solution xCurrent is not used XRP are the native currency of the blockchain Protocol from the company Ripple. At the same time, the Financial Times, the new solution can take on almost half of the payments made by retail customers of Santander in the countries listed above.
ForkLog previously reported that technology Interledger from Ripple were involved in the payment system Apple Pay.