Spain’s Santander Bank Unveils New PagoFX App While Clarifying Increased Ripple (XRP) One Pay FX Use

A huge upgrade is underway for the One Pay FX app, which is a Ripple based international payment platform by Santander.

The leading Spanish Banking institution Santander, officially launched its One Pay FX app in 2018, and currently provides financial transactions services across 19 countries.


At an event in London dubbed “Investor Day”, Santander announced the launch of an independent platform “PagoFX”, which is technically usable by the unbanked, I.e. it permits users to perform instant currency transfers across the globe without the need to be customers of the parent company.

The new app is to be launched “in the near future” in Poland, Germany, and the United Kingdom. PagoFX is also stated to be tailor-made for SME’s.

Why go With PagoFX

Ana Botín, an Executive chair on Santander, promoted the new app saying

“You can do FX transfers, real-time, between the UK and continental Europe. And you can actually do Poland, Brazil and Chile – through Santander – for the same cost as Transferwise, and that is the reason why we need to really think about what is real reciprocity. The devil is in the details and the timing.”

she also said that currently, the new app powers over a half of all foreign exchange transactions of the the Santander group.

Botín said

“With this new initiative that is already in place, we’re actually covering 50% of all the FX payments that the Santander Group does annually.

And it works really well, because the rails that we’re using – which, as you say, we’ve collaborated with Ripple – we’ve been testing those for two years, actually with our own employees. And it works. It’s safe. It’s fully compliant, and obviously we’ve made sure we comply with all local regulations. So you’re in safe hands.”


In February, a tweet from the company’s customer assistance desk erroneously stated that they had started to utilize Ripples xRapid to improve international payments.

Santander quickly apologized for this misinformation, and corrected and informed the public on their use of Ripples xCurrent, as opposed to the purported xRapid.

Even though a good number of financial institutions currently make use of xRapid, Euro Exim bank is the only confirmed financial institution making use of xCurrent.

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