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Ripple partner Santander says xCurrent-based OnePay FX satisfies “pent-up demand”

Anirudh VK



Ripple partner Santander says xCurrent-based OnePay FX satisfies "pent-up demand"
Source: Unsplash

Santander Bank’s Head of Innovation, Ed Metzger, recently spoke about Ripple’s technology and how the bank utilizes it to deliver cross-border payments. This comes after the bank launched an app known as OnePay FX earlier this year based on Ripple’s technology.

Metzger stated that their use of Ripple’s technology has “improve[d] [their] customers’ lives”, which comprises about 140 million individuals across retail and commercial fields worldwide. He went on to say:

“We believe that financial services is moving to a world of open platforms where companies collaborate to deliver excellent customer service for their customers, and that’s at the core of what we’re doing with OnePay FX.”

He also spoke about the ease of access the app offered to consumers across the world, offering anecdotes of customers who used the app. He stated that the app made it so that something that “would have taken an awful long time in the past” occurred in “four or five clicks”.

Moreover, he also elaborated upon the indicators of a bigger change occurring within the customers of Santander. He stated:

“People don’t have to plan ahead. They can send an international payment when they need to. That’s really powerful.”

The bank, which is one of the largest in the Eurozone, released the payments app in April. They have a “deep presence” in over 10 markets, with the app being released for UK, Spain, Brazil, and Poland.

Metzger also stated that they will very shortly have support for Euros on the Santander app and that they are going to roll out the service for “more customers, more channels and more geographies.”

As for the bank’s reasons for launching the app, Metzger explained:

“We noticed was a pent-up demand in our customers especially in regards of international payments. There’s a level of dissatisfaction with the current services.”

This led the bank to look at how to improve the service to match the “rising expectations” of their customers. This is how they discovered Ripple, he said. He elaborated:

“We started to say, it’s obvious the world is being changed by technology. What technologies are they out there that could help us improve the service that we give to our customers for international payments? That’s how we started working on Ripple.”

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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.


Ripple’s XRP records relatively low 24-hour trading volume even as prices hold above $0.35

Guest Author



Ripple's XRP records low 24-hour trading volume; even as coin trumps in third position
Source: Pixabay

The cryptocurrency market has been exhibiting a bullish trend even as Ripple’s XRP steered its way to major declines last week. The digital coin was hovering below $0.40, with very low price action in 2019. XRP was ranked as the third largest crypto-asset with a market cap of $16.03 billion and a price of $0.38, at press time.

However, XRP’s trading volume of $1.28 billion over the past 24-hours painted a different picture. The coin was trading relatively low in terms of its volume.

Ripple’s partnerships and developments did not seem to have had a significant effect on its native cryptocurrency’s trading volume.

The silver crypto, Litecoin [LTC], which is the fifth largest by market cap, recorded a 24-hour trading volume of $4.27 billion, which is nearly four times that of XRP. EOS, the sixth positioned digital asset, stood at a trading volume of $2.04 billion over the past 24-hours.

If the 24-hour trading volume was taken into account, XRP slipped to the seventh position, followed closely by Tron. TRX was closing in with a 24-hour trading volume $858 million.

According to the CoinMarketCap figures, XRP’s trading volume gained momentum on May 14, 2019, registering a massive $5.83 billion in 24-hour trading volume, priced at $0.32, as compared to $1.97 billion the previous day. However, the digital coin endured huge losses over the month as the volume sank soon after. XRP, however, has maintained its price above $0.35.

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