Ripple Partner Banco Santander to Run its Blockchain-based Payment System on 6 More Corridors

[cryptoxrp 1,134]

John Whelan, the Managing Director of Digital Investment Banking at Banco Santander: 

Bitcoin he says is “inefficient” as it validates transactions every 10 minutes. As such they (Santander) are leveraging the tech developed by Ripple that settles payments across the XRP Ledger in 4 seconds.

Whelan added,  “Instant transfers at a very very tight spread, 30 basis points, nice user experience. I used it myself, money to the United States, it’s available on the same day. Fantastic. At a guaranteed rate, even better.”

Source: https://www.google.nl/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&ved=2ahUKEwjri4jC6-_lAhWIZVAKHfFgCX8QFjAAegQIAhAB&url=https%3A%2F%2Fbitcoinexchangeguide.com%2Fripple-partner-banco-santander-to-run-its-blockchain-based-payment-system-on-6-more-corridors%2F&usg=AOvVaw3-Su0nsJRolueBiXq4v8MO

[WuWei 1,446]

This article certainly implies the use of xrp but it doesn't clearly state that. The reference to bitcoin being inefficient, and then the reference to Ripple helping them to settle in 4 seconds, has xrp written all over it, but again, not specifically described as such. Either way, all of these alliances that Ripple is making is setting the stage for a potentially massive roll-out of xrp usage in the near future. 

[jargoman 862]

On 11/17/2019 at 3:34 PM, WuWei said:

This article certainly implies the use of xrp but it doesn't clearly state that. The reference to bitcoin being inefficient, and then the reference to Ripple helping them to settle in 4 seconds, has xrp written all over it, but again, not specifically described as such. Either way, all of these alliances that Ripple is making is setting the stage for a potentially massive roll-out of xrp usage in the near future. 

"they (Santander) are leveraging the tech developed by Ripple that settles payments across the XRP Ledger in 4 seconds."

It's definitely XRP.

This was one of the banks that withdrew from the r3/ripple banking consortium that was researching blockchain. It seemed like they were going to use hyperledger or do what ever r3 decided to do. Them coming back to ripple and then using XRP and now ramping up the corridors. All those other banks are paying attention. If Santander starts saving lots of money those banks will know why


This is pretty big news to be dropping back to a price level from before banks used XRP. 

[elppir 54]

Would be great, but when is the moment to buy some more? It looks like going down some more...

[Frisia 126]

1 hour ago, jargoman said:

It's definitely XRP.

No it isn't. There is no liquidity corridor yet and the use of "corridors" in the Santander payment initiatives is misleading. 

You can watch all the liquidity corridors (MXN and PHP and two others ready) but there is no European corridor yet.