Santander Group just launched their application called OnePay FX. The latest rumors suggest that Santander’s OnePay FX will get released worldwide in the following months. This would be great for Ripple because the application is based on its technology and it allows cash transfers to get to the destination on the same day.
Santander is a retail banking company that was founded by Scott Powell, and it’s under the Santander Group’s umbrella, the latter basically being its parent organization. The Group is a Spanish giant which released its services across Poland, Brazil, Spain and the United Kingdom.
Santander aims to become pioneer retail bank using cryptos
The company stated that it plans to become the first retail bank in the world that allows cross-border payments of cryptos via the blockchain technology. OnePay FX app allows cross-border payments for Santander’s customers.
xCurrent business software is employed by this service, and it’s made and designed for banks. It enables banks to receive and transfer payments all over the world. It’s also important to note that xCurrent encrypts end-to-end tracking of messages and it’s also bi-directional.
Santander uses the blockchain tech to gain 50% of payments
Santander works to execute its software to companies, and it makes use of the blockchain technology to gain about 50% of the payments that are made via foreign exchange. After the service gets launched in all countries, there will also be more development functions including instant transfers. Such a new feature would make Santander of the best international money transfer services available in the whole world.
United Kingdom-based customers would be able to use the OnePay FX app in order to transfer money to European countries and the US as well. In Spain, customers would be able to make transfers to the first four countries that we mentioned above and to the US.
OnePay FX app supports easy and fast payments, and it allows users to view the precise amount that gets transferred based on the current exchange rate.
The news was received with both excitement and raised eyebrows because some crypto enthusiasts feel that if we want XRP’s price to increase, we should aim the app to use xRapid instead of xCurrent.