Some people may recall how Santander UK and Ripple are working together. Both firms want to improve International remittance flows through blockchain and digital assets. The first mobile application benefiting from this new technology is now live on the Apple App Store. OnePay FX lets users send Euro and Dollar transactions in mere minutes, rather than hours or days.
It is good to see Santander UK has come through on their XRP venture. More specifically, the firm acknowledges they are trialing Ripple technology for remittance solutions. Incorporating that technology into existing services and products is not all that easy. As such, the firm introduced the OnePay FX application for iOS. It lets users complete Dollar and Euro remittance transfers in quick succession.
This particular application lets users spend up to 10,000 GBP per day. That is quite a steep amount, although it should be sufficient to keep most users satisfied. Users can convert from GBP to EUR and USD through the application itself. They can also see what the final amount to be received will be, to avoid any surprises. It also supports payments to individuals, rather than just companies, which is a nice touch.
This is the first application from Santander, which uses Ripple technology. Although it is unclear if this venture makes use of XRP, it is a positive development regardless. Although the app description doesn’t mention Ripple, it seems evident he correlation is certainly there. After all, remittance solutions can benefit from this blockchain technology in the future.
It is quite interesting to see how the public responds to this development. More specifically, there is a lot of hate for Ripple and XRP among cryptocurrency users. Even so, financial firms are quite keen on exploring this company and its technology. So far, things are coming together for Ripple in this regard. However, there’s still a lot of work to be done in the coming months and years.
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Exchange Rate: EUR