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.
#Ripple's blockchain based solution has no limitation. It works, it is safe and it is fully compliant.
Ana Botín – Executive Chairwoman of Santander Group#XRPcommunity #blockchain #crossborderremittances pic.twitter.com/XLomTKNVvu
— Steven Bull Diep (@DiepSanh) September 17, 2018
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.
Remember this? ???? pic.twitter.com/puCElpXoU8
— Steven Diep (@DiepSanh) September 17, 2018
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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XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
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The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
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Should Crypto Projects Devote Resources to Community Growth and Marketing?
2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for. While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory. When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion. But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.
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Cryptocurrency vs. Blockchain Technology
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XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata
Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //
The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.
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“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.
He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”
Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”
Mr. Yamagata has been…