Ripple is getting a lot more hot these days. Reported recently, American Express or Amex employing xCurrent, one of Ripple’s products. Accordingly, the firm has already gone through the prior testing and satisfied with the positive outcome.
Amex Praises Ripple for Cross-Border Payments
Forbes earlier reported that the American Express which is the multinational financial service corporation is introducing Ripple blockchain for transferring the fund to businesses located in the UK. However, the firm has successfully completed its testing phase and unveiled Ripple’s potential for their international payments. At the Wings of Change Europe conference in Madrid, Amex’s general manager for the corporate payments, Carlos Carriedo claimed that they have partnered with Ripple and Santander, local Bank to streamline the international payment with Ripple’s technology.
In his own words,
“We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one,”
xCurrent and Hype of Ripple’s Technology
‘Just to understand how to leverage this better’
Ripple’s latest partnership and launch of various products have eventually raised the eyebrows of major market players and confidently urged founding members of Ripple to bet on its future expansion.
Furthermore, Amex’s FX International Payments (FXIP) partnership with ripple and Santander designed to provide real-time, trackable non-card payments from the US to Britain.
Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com