Santander, Together with Ripple, Launch Payment System Based on Blockchain Technology


As it became known on April 12, the Spanish international bank Santander will be the first bank in the world to launch a payment system based on Blockchain technology.

According to a representative of One Pay FX, users of Santander accounts in Spain, Poland, the United Kingdom and Brazil will be able to use the fast payment system. We remind you that the system, based on the Ripple Blockchain technology, allows you to make international transactions cheaper and faster.

According to a press release, residents of Brazil and Poland will be able to use the system for money transfers to the UK, while the Spaniards will be able to transfer money also to the United States. Residents of Great Britain receive an opportunity to transfer funds to all European countries, as well as to the USA.

By the summer the company intends to expand the list of countries where access to the system will be open.

Santander and Ripple for several years worked to create an effective money transfer system based on Blockchain, which allowed increasing the efficiency of the system and speeding up the process of conducting transactions.

In 2016, the company launched a payment system based on Blockchain for the company’s employees.

It is worth noting that in the future, One Pay FX intends to expand the list of functions available in the system and expand the list of countries that can use the system of fast international payments.

This post is also available in: ruРусский

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