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Ripple tech has no limitations, and is safe, says Santander Executive Chairwoman

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Santander OnePay FX is a foreign exchange service which uses Ripple technology to make international money transfers within the same day. Santander’s blockchain-powered exchange is currently in 4 various countries – the U.K., Poland, Spain, and Brazil.

However, according to Ana Botin, executive chairwoman Santander group, they expect a broader roll-out in the coming months where the group will introduce the service to the additional countries for various small businesses. Also, there’s a possibility of extending the product’s availability to financial institutions.

Are There Any Limitations?

It is excellent to note that even though blockchain tends to be capacity-limited, the service has no limitation at all – thanks to the volumes that are available.

Foreign exchange transactions of the four countries that the app covers account for almost half the bulk of the bank’s retail consumers. Furthermore, for two years, the bank has been trialing the service among the staff in the U.K., and it has been perfect. That all is what the Executive Chairwoman of Santander Group, Ana Botín itself says.

Ana Botín further said that the blockchain based solution does not have any limitation and instead it works, is safe, and fully compliant. The executive chairwoman when addressing the safety concern, assured consumers of absolute safety as all the local regulations were complied with.

Undoubtedly, as it seems seeing the facts till date, the blockchain-based ways for payments are faster, more cost-effective, more efficient, safe, and secure. The fact that the bank plans to implement the technology into several markets by summer (pretty soon) makes the potential-experience precisely as what everyone expects from a global bank like Santander.

Now, no more waiting for more than three days or so for the transactions, thanks to transactions via the Santander One Pay FX. On the other hand, partnering and now getting praised by a giant bank like Santander is good news for Ripple as it helps to boost company’s and its cryptocurrency, XRP’s, market cap.

Not only has Ripple partnered with Santander bank but also with multiple banks as well as other financial institutions.

Ripple’s MoneyTap Around the Corner

Japanese fintech SBI Holdings made it public to launch an application based on Ripple technology named MoneyTap for mobile payments.

The app is meant to make all bank transfers easier, cheaper, faster, and flexible. While making the announcement, CEO SBI Ripple Asia Takashi Okita, stated that the MoneyTap would improve the payment infrastructure in Japan significantly.

How is Ripple’s XRP Doing at the moment?

Ripple (XRP) is among the most talked about cryptocurrencies nowadays, which is not a surprise given that it’s the highly real-life integrated crypto in the market at present. Additionally, it has been tested by several banks, financial services, and banking institutions for transactions on the global scale.

Currently, Ripple’s XRP sits at third place among the digital coins and trades slightly above $0.27. On Sunday XRP was at $0.2726 to mean that it has not recovered, but recovery is expected in next 24 hours; however, it might be limited as there is no momentum. The current value is still much far from Ripple’s all-time high earlier January this year when it hit $3.33 mark.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Altcoins

Cryptocurrency Collateralized Debt Positions Are Growing in Popularity

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While Bitcoin (BTC) continues to hover around the magical 10,000 price level, altcoins continue to fight an uphill battle.  Simply put, hopes of a future bull run continue to diminish as Bitcoin maintains its dominance.  One school of thought is that a few altcoins will survive and flourish, but which ones are anyone’s guess.  That being said, it’s hard to go wrong picking against the top coins like Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and EOS.  These projects have managed to find a foothold in the market and have a better chance than most of staying there.  While traders wait for their positions to increase in value, one opportunity that may be worth looking at is initiating a collateralized debt position.

What is a Cryptocurrency CDP?

In traditional terms, a CDP is essentially putting up collateral in order to receive a loan against the deposited amount.  There are several examples of this in our day to day lives.  Auto title loans from large companies like TitleMax are extremely popular with consumers.  Consumers are essentially able to use their car as collateral in exchange for a cash payment which can then be used for whatever needs the consumer has.  The consumer can continue using their car as long as debt payments are made.

The same concept applies to cryptocurrency CDPs.  Consumers are able to put up crypto tokens, such as…

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Hodium Presents a Compelling Opportunity for Outsized Investment Returns

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I’m sure all of us remember the cryptocurrency glory days of 2017 and early 2018.  It was one of the biggest bull runs in history and created incredibly wealth for quite a few early entrants.  Unfortunately, for most of us, those gains have most likely been wiped out during the altcoin apocalypse.  The truth is that traders probably thought a bit too highly of their trading abilities when the reality was that anyone could have thrown a dart at a board and ended up making money.

As markets mature (and the crypto market is definitely maturing) it becomes more and more difficult to generate alpha.  In that regard, it’s similar to traditional financial markets.  I can remember trading during my high school days.  It was the late 90s and right in the middle of the dot.com boom.  Eventually, however, the euphoria fades away and reality hits hard.  Now, it’s become rather difficult to actually trade profitably which has given way to the rise of hedge funds.

Hedge funds are investment funds that pool capital from accredited and/or institutional investors and invest in a variety of assets, often with extremely complex portfolio-construction and risk management techniques.  The professionals employed by hedge funds are the best of the best and have spent years honing their craft.  That is why they’re able to make the millions of dollars that they normally…

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KaratGold Proves Its Business Model By Providing Official Documents

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There has been a lot of renewed enthusiasm in the cryptocurrency market thanks mainly to Bitcoin’s strong move about 10,000.  Although Bitcoin continues to show its dominance, the altcoin market has yet to benefit from that rally.  A few of the largest altcoins remain popular but the rest of the market continues to lag behind.  In 2018, there was a lot of talk regarding a possible altcoin apocalypse where only the strong would survive.  That prediction appears to be playing out as expected.  Going forward, only the best projects that have a real world need will survive.  Crypto traders will have to spend a lot of their time doing proper research in order to find the best opportunities, just like in all financial markets.  One promising project that appears to have the makings of a future winner is KaratGold Coin.

KaratGold Background

KaratGold Coin is a cryptocurrency developed by the reputable German company Karatbars International, which maintains a leading position in the market of small gold items and investments. The project is part of a larger ecosystem, which involves several blockchain solutions that can be used for transactions, communication, investing and other tasks. During the past few weeks, however, the KaratGold ecosystem has been a target of unsavory scam allegations.  

Karatbars International and GSB Gold Standard Banking Corporation…

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