Banco Santander will officially use Ripple.
Banco Santander will officially use Ripple's distributed ledger technology for same day international mobile payments during Q1 2018 after 18 months of pilot runs with bank staffers. The mobile app was tested using Apple Pay for transactions between 10 and 10,000 euros.
As Santander stated on its 2017 earnings presentation, they are determined to implement distributed ledger technology as part of its strategy to scale their international payment systems with the goal to use this platform for payments in four countries during Q1 2018.
Even if Santander is not going to use XRP at this moment, this is a milestone and an opportunity to strengthen their relationships with key players in the financial industry. I'm pretty sure that after Santander starts using Ripple, more companies will see the benefits of their liquidity products as well.
What are your thoughts about this strategy and where do you see Ripple going from this point?
Ripple (XRP) is a centralized coin backed by major banks and financial institutions. Same book, new cover. #boycott