Major Spanish banker Santander and Ripple xRapid to build payment system with Latin America

Fibo Quantum

One of the world’s largest banking institutions, Spain-based Santander Group, Ripple plans to expand the areas in which uses its technology.

Ripple Based Payment Corridor Moves from Santander
According to a recent report, the bank will soon establish a special ”payment corridor ve and enable customers in Latin America to send money directly to the US free of charge. One Pay FX, Santander’s payment platform for this purpose, actually uses Ripple’s xCurrent software and payments can be sent so fast and inexpensively.

For the time being, only bank customers in the UK and Spain can send money to the US using One Pay FX, and the extension of this to entire Latin America is definitely the Ripple’s XRP. The Bank did not clarify whether this service would be provided to all or a certain part of Latin America. The countries that Santander serves in the region are known as Brazil, Uruguay, Chile, and Mexico, respectively.

One Pay FX CEO Cedric Manager said in a statement about the new plan:

Iler Customers who do not make international transfers are currently using this service. International transfer customers are now using it much more. In addition, customers starting to use fin-tech-based competitors have returned to this with the One Pay offer. ‘

Santander came to the fore with the claim that he had cut his support to Coinbase stock exchange in England but this was denied.