The partnership between American Express, Ripple and Santander Bank that began back in November of last year is reaching new heights as the trio continues to advance blockchain solutions to foster secure, high-speed cross-border payments.
In a recent job posting on the American Express careers board, a clear reference was made to the partnership as evidence of the company’s focus on “growth, new products and technology offerings to meet customer needs and build on the American Express brand.”
“In 2018 we are introducing a [blockchain] solution with Ripple and Santander,” the ad said, which appears to have since been edited.
Both American Express and Santander Bank, since the advent of their partnership with Ripple, have been using startup’s technology in increasing ways.
As reported by Smartereum, the Vice President of American Express, Colin O’Flaherty, confirmed last week at Money 20/20 Europe, they would be using Ripple’s xCurrent tool to enable global transactions at higher speeds and greater levels of transparency.
“Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds. And that provides a real opportunity to alleviate most of the issues our customers are facing,” said Flaherty at the event speaking of the challenges small-to-medium-sized enterprises (SMEs) particularly face when engaging in cross-border payments.
The xCurrent product is already being used by Santander to enable their OnePayFX service which allows customers to complete international transfers either on the same day or the very following.
While xCurrent does not require the use of Ripple tokens (XRP), CEO of Ripple, Brad Garlinghouse is optimistic about the current rate of adoption by the major banks for more Ripple products that do use the token.
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