Santander Bank will present a payment application based on Ripple technology
Santander Bank UK to Launch Ripple-Based Payment Application.
Finextra reports that the bank employees have been testing the application for 18 months. It is integrated into Apple Pay and allows you to make payments from £ 10 to £ 10,000. According to the company presentation [PDF], the application will work in Spain, Brazil, Great Britain and Poland..
All payments will be processed on the day of dispatch, and clients will have to “make 3 clicks and spend 40 seconds” to complete the transaction. The application will also have a built-in digital wallet, the ability to manage personal finances and an assistant for making transfers between users.
“We intend to launch it in the next few months and we are ready to officially confirm that we plan to use xCurrent in this project,” said Ovidio Cordero, spokesman for Santander.
It is important to note that xCurrent technology does not provide for the use of XRP cryptocurrency.
Brad Garlinghouse also issued a statement on the matter, adding that the app will be released in the current quarter..
In addition, according to CoinDesk, Ripple has spent $ 84 million from its January 1 billion XRP reserve. This means that the unused 900 million XRP were returned to the company’s vault..
Earlier, in order to increase confidence in its own cryptocurrency, Ripple put 55 billion XRP in storage and will take 1 billion XRP from it every month for its own needs. Unused funds, as in the latter case, will be returned to the storage.
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