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Why Santander Doesn’t Want to Use Ripple for International Payments Yet

imageCryptocurrency13 hours ago (Aug 13, 2020 03:40PM ET)

Why Santander Doesn’t Want to Use Ripple for International Payments Yet

Santander (MC:SAN), the large scale Spanish bank and one of Ripple’s major partners, is still hesitant to adopt XRP as part of its international payment network, One Pay FX. The company reasoned that the token “was not actively traded in enough markets” to support the company’s banking needs.

During an interview with the Financial Times, Cedric Menager, chief executive officer of One Pay FX, explained that Santander wants to provide the “best [user experience] as quickly as possible.” He also said that the bank hopes to “operate in as many currencies and corridors as possible from the beginning.”

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Why Santander Doesn’t Want to Use Ripple for International Payments Yet

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