Santander launches a blockchain-based foreign exchange service that uses Ripple's technology
This article from CNBC may be of interest. Here is section:
Santander’s blockchain-powered foreign exchange platform is currently live in four different countries — Spain, the U.K., Brazil and Poland. A wider roll-out is expected in coming months, the bank said.
Innoventures, a $200 million fintech, or financial technology, venture capital fund set up by Santander, was one of a number of investors to participate in Ripple’s first round of funding in 2015.
Ripple has struck partnerships with multiple banks and other financial institutions, including Santander. Banks are less keen to use the firm’s digital currency XRP, but earlier this year two money transfer firms, MoneyGram and Western Union, announced projects involving the cryptocurrency.
On Wednesday, Ripple invested $25 million into a fund started by Blockchain Capital, a venture capital firm dedicated to blockchain.
Ripple first gained notoriety as the favoured token of banks but nothing much came of the initial enthusiasm. Ethereum later became the favoured vehicle and went on to have a significant bull trend.Click HERE to subscribe to Fuller Treacy Money Back to top