Santander, a Partner of Ripple, Creates New Payment Service Called PagoFX
An important partner of Ripple, Banco Santander, has recently launched a new product. PagoFX will be a new payment service created by the Spanish bank and it will be used in the United Kingdom and European Union.
Santander announced the new payment service the Q3 report. Its main use will be for international money transfers, which are also the specialty of RippleNet.
Ripple and Santander have partnered several times before. The bank often uses xCurrent for international payments and settlements, which is why some people in the XRP community believe that the token may be used in this new system.
The XRP Research Center, a prominent Twitter profile on Ripple and XRP, believes that the XRP Ledger may be used for this, due to the prior partnerships between the companies and how it would be the perfect solution for a system such as this one.
October 30, 2019.@bancosantander released Financial Report for 3Q 2019.
– Santander created "Santander Global Platform", an internal Global unit that will host @PagoFx.
— XRP Research Center (@XrpCenter) October 30, 2019
Ripple is moving forward with several partnerships and plans these days. Recently, the SBI Bank, which is another Ripple partner, has also announced a product that will use the XRP technology called Money Tap. The product is focused on international payments and it was created by SBI and PayPal, a Japanese company.
Xpring, one of the subsidiaries of the crypto firm, has also recently launched KeyLess, a service for biometric authentication that can be used to manage identities. The service lets people manage their wallets and cryptos without needing to be afraid to lose them.