Spanish banking giant Santander is preparing to launch a new remittance service in Latin America using Ripple xCurrent.
The Bank will create a “payment corridor” for its Latin American customers to enable them to instantly and free of charge send money to the United States through the One Pay FX banking application that uses the Ripple xCurrent solution.
The application allows money transfers between the UK and Spain. Santander will launch a new corridor for Latin America, but it is not yet known when and in which country the project starts. Note that Santander currently serves Brazil, Uruguay, Chile and Mexico.
Last week, there were reports that transfers from Santander accounts do not go to the Coinbase cryptocurrency exchange. It turned out that the bank did not block the site, but checks payments.
Recall that in February Santander and IBM signed a five-year agreement on the use of the IBM blockchain platform. Thanks to this, Santander plans to significantly reduce the cost of information technology.
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