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Ripple XRP Partner Banco Santander on New Foreign Exchange App
The large Spanish based banking group Banco Santander in partnership with Ripple have launched the One Pay FX app. This new One Pay FX app will be launched this month in four countries. This will be in the United Kingdom, Spain, Poland and Brazil.
The application is a product of the new and very succesful partnership between Ripple XRP and Santander. The bank was one of the original investors in Ripples back in 2015.
Ripple’s distributed ledger technology forms the base of this app. It took more than 18 months of development. Banco Santander will be one of the first banks to offer blockchain technology to ease foreign exchange payments to its customers.
The app is not based on the XRapid platform but only used on Ripple’s xCurrent platform. So the XRP cryptocurrency will not be used in these transactions. One Pay FX app does not need the Ripple XRP coin.
Santander Group expects to extend the service to additional countries in the next two years and is planning to make the service available to their partner financial institutions in the years 2019.
This announcement by the Spanish Bank comes only days after Ripple announced its $25 million XRP investment in a fund dedicated to develop blockchain technology to a higher level. Ripple added its $25 to the $150 million fund managed by Blockchain Capital Parallel.
Ripple says their XRP crypto is not a Security
Update: The ongoing global debate in the crypto community over whether XRP is to be considered a security or not has returned. It all started when the President of Coinbase made the implication in a recent interview.
Asiff Hirji, president of cryptocurrency broker Coinbase (one of the largest cryptocurrency brokers in the world) told this in an interview to CNBC. “Currently Coinbase lists all cryptocurrencies for which there is a clear regulatory certainty. Unfortunately Ripple’s XRP is not one of them.”
Yet it is still very unclear what coin qualifies as a security in the global cryptocurrency market Cory Johnson (chief market strategist of Ripple) responded promptly on CNBC by saying
“Our XRP is absolutely not a security. It does not meet the standards for what a security is based on the history of court law,”
Ripple and Its Master Plan Beyond 2018
What’s the company plan to make Ripple (XRP)the largest crypsotcurrency ever, even bigger than Bitcoin [BTC]?
Ripple has announced that they secured the services of Corby Johnson (ex- Bloomberg TV presenter. Johnson will be the new chief marketing strategist and sell Ripple to large multinationals and investors. Another big step by Ripple in its bid to step up the adoption of Ripple platform and the XRP currency.
This is the plan for the future
But that’s just a start. Ripple has more plans: It will be the first cryptocurrency used by banks, mulitnationals and gouvenments worldwide. Ripple XRP is the only cryptocurrency with a proven track record. In 2018 Ripple must be portrayed as a the first cryptocurrency with a viable world use. However in 2018 Ripple is about to make itself stand out from the rest.
Asked what he thought of the current cryptocurrency space and blockchain in general, this is what he had to say:
Company MD Danny Aranda on March 10, 2018: “I think a lot of what you see in the cryptocurrency space and in the blockchain space is really focused on experiments or small proof of concepts”.
“But we are very determined to make sure that we serve real customers with real problems. We will also provide save and fast cross-border payments and ensuring that we deploy cryptocurrencies as a better method to fund the liquidity for the cross-border flow.”
This in only a small part of the bigger picture for the XRP cryptocurrency. It want to jump into the financial the market and offer real solutions to real problems. The main focus is to beomce the world number 1 crytpocurrency in cross-border payments. This is where the XRP coin can have the biggest impact.
In the beginning of 2018 Ripple became a partner of Western Union
After the partnership with Western Union, the largest global payment provider Ripple has also jointed forces with MoneyGram. The main goal is to facilitate the international payment system of Moneygram.
Mr. Aranda further explained that Ripple was the number 1 candidate to takeover worldwide payments due to its faster transactions. For example : A wire transaction takes between three and four days to complete, seven flying the cash yourself halfway round the world would actually be faster and cheaper. The consencus is that XRP wil become the preferred cryptocurrency for international worldwide payments in a within a few years. Due to this growth the XRP coin will gain it’s momentum.
The intrinsic value of one XRP cryptocurrency token could be up to 50 to 60 dollar in the year 2020. Please watch this video to understand the Ripple masterplan.