Ripple[XRP] praised by American Express on the ability to swiftly process Cross Border payments
Ripple the company behind the XRP token has achieved a huge amount of success in the recent months. By becoming the second biggest cryptocurrency and not dropping as much as other cryptocurrencies, XRP has made it’s investors happy. Ripple has even started attracting the attention of big financial players such as American Express.
GM of Corporate Payments American Express, Mr. Carlos Carriedo, praised Ripple while speaking at the Wings of Change Europe conference in Madrid. He said,
“Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab based on blockchain technology, just to understand how to leverage this bette, 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.”
American Express is one of the few financial institutions along with Santander that has understood the potential of Ripple [XRP] in terms of global money transfer. But Mr. Carlos Carriedo also warns that Ripple still has a long way to go.
“There is more to come. There’s still a lot of things that need to get addressed with blockchain as a technology. But it’s very promising..The future is definitely digital. Digital is the way payments will continue to be across both the consumer part of the business the commercial part of the business”.
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