Santander’s Ripple-Powered One Pay Fx To Be Launched In The US, Offering Remittances To Mexico

Banco Santander SA Chairman Ana Botin says retail cross-border payment solution One Pay FX is coming to US.

  • In the coming year, we’ll be seeing “good results” of this partnership
  • Also, the bank will be announcing “very interesting remittances” next week

Ripple partner Banco Santander is all set to launch its blockchain-based payment solution to a new corridor, U.S.-Mexico.

While speaking with Bloomberg on Nov. 20, Banco Santander SA Chairman Ana Botin shared that the announcement for the same will be made next week as she said, “We are actually announcing next week a very interesting remittances.”

Talking about the U.S.-Mexico remittance market, she further shared how they will add value to the customers of this lucrative market.

“At the other end of the spectrum there is millions of Mexicans that are sending I think 35-36 billion every year from the U.S. to Mexico. We're launching a fast competitive remittances program initially just from the Santander branches to any bank in Mexico. So there's a lot of things we can add and bring value to the US consumer.”

Recently, John Whelan, the Managing Director of Digital Investment Banking at Banco Santander revealed that they are running their blockchain-based payment system in four corridors, Brazil, Mexico, the UK, and Spain and will soon be on all 10.

Though she didn’t explicitly mention Ripple here, further in her discussion, she revealed that they are going to launch a retail cross-border payment solution called One Pay FX with Ripple.

“We are launching One Pay FX which is a blockchain-based retail cross-border payment with Ripple, a US company (…) that's coming to the US and we're going to do open bank.”

Launched in April 2018, blockchain-based One Pay FX was made available to retail customers in Spain, UK, Brazil, and Poland that complete international transfers on the same day or by the next day. Botin added,

“We created the North American region, Mexico-U.S. We're now running a lot of these businesses together, so you'll see good results in the coming years.”

Ripple (XRP) Live Price

1 XRP/USD =$0.2464 change ~ 2.46%

Coin Market Cap

$10.67 Billion

24 Hour Volume

$186.84 Million

24 Hour VWAP


24 Hour Change


Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

AnTy has been involved in the crypto space full-time for over two years now. Before her blockchain beginnings, she worked with the NGO, Doctor Without Borders as a fundraiser and since then exploring, reading, and creating for different industry segments.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Crypto Exchange Gemini Makes an Aggressive Move, Adds 15 Hot DeFi Tokens

DeFi is all the rage in today's crypto world, and no one wants to be left behind, especially cryptocurrency exchanges. Over the past few months,...

Ethereum ‘Getting Ready for Spadina' Testnet Next Week

The Spadina testnet of ETH 2.0 has been scheduled for genesis before the month ends, on September 29 at 12 pm UTC, as per...

KuCoin Hack: Exchange’s Insurance Fund to Cover User Loss “Completely,” Tether Freezes 33M USDT

The Singapore-based cryptocurrency exchange KuCoin released a statement regarding detecting large withdrawals on September 26, 2020, at 03:05:37 (UTC+8). The exchange has reportedly lost $150...

Crypto Custodian, Anchorage, Adds Support for DeFi Tokens: BAL, NXM, AAVE, UNI, and YFI

Anchorage, the Delaware corporation headquartered in San Francisco, California, and digital asset custodian for institutional investors is diversifying its DeFi token options for its...

Coinbase Wallet Targeted by New Trojan Malware Dubbed ‘Alien’

The Coinbase wallet is among 226 Android applications targeted by a recently discovered Trojan dubbed ‘Alien.’ This malware mostly targets the financial services space...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today