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JC83

Santander takes on fintech with blockchain payments service

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It's a podcast so I don't have a transcript to quote. But the highlight on the facebook link quotes: "We are covering 50% of all the FX payments the Santander Group does annually. It works really well... we’ve tested for two years and they work, they’re safe and they’re fully compliant.” -Santander Group Executive Chairman Ana Botin on One Pay FX

Quote

Highlights-

Ripple provides no speed limitations on the amount of transactions

They plan on having payments be instantaneous by the summer(Xrapid going live within Santander this summer!)

Banks are going to lose a third of their revenues in the next few years if they do not use Ripple. (Swift is killing them!)

 

 

Santander on One pay FX and their use of Ripple

Edited by JC83

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This is great. Does anyone know how much Santandar group transmit cross border per year? I've tried googling for that, but haven't found it. I was thinking that just knowing if 50% of it is like a few million per day or many many millions, and how this compares to XRP current volume.

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