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

Published

6 years ago

on

Ripple Santander

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

Solana Price Surges Beyond $100, Dethroning Ripple and BNB To Secure Fourth Place

Published

4 months ago

on

December 27, 2023

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Solana price performance in recent times has been remarkable, surpassing Ripple and Binance Coin to become the fourth-largest cryptocurrency by market cap. The SOL price breached the critical level of $100 for the first time since April 2022 over the weekend to imbue optimism among investors. However, the altcoin has corrected by 7%, suggesting that the market is overheated. At the time of writing, the ‘Ethereum killer’ was trading slightly lower at $111.60.

SOL Outlook

Solana price has made a significant recovery over the past few weeks, climbing above the psychological level of $100. The altcoin has been one of the best-performing assets this year, extending its year-to-date gains to more than 1,025%, with more gains recorded in the past month alone. However, even with such growth, analysts have noted that Solana has a bleak chance of topping its ATH of $260.

The reason behind this is the increase in supply relative to its value. In November 2021, when the Solana price hit its all-time high of $260, its total market capitalization was around $78 billion. Despite the value of the crypto asset being less than half of what it was at the top, its market cap is currently hovering near $50 billion.

This has been brought about by the increase in the Solana supply by more than 100 million SOL over the past two years. According to some analysts, for the altcoin to retest $260, its…

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Altcoins

Solana Price Skyrockets to 20-Month Peak Amidst Memecoin Frenzy

Published

4 months ago

on

December 22, 2023

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Solana price has noted significant gains over the past few weeks, climbing to its highest level since April 2022. The ‘Ethereum Killer’ almost topped the crucial level of $100 on Friday, before pulling back slightly. The asset’s recent surge has catapulted Solana’s total market cap to $39.6 billion, ranking 5th after and above BNB and XRP, respectively. Solana has jumped by more than 22% in the past week and more than 80% in the month to date. At the time of writing, SOL price was trading 0.90% lower at $93.10.

Catalysts Behind SOL’s Rally

Solana price has been on a strong bull run over the past few days, rocketing to its highest level in 20 months as the network benefits from the substantial activity and strong interest in memecoins. The SOL token, the native digital asset of the high-performance blockchain platform Solana, has shown some serious strength over the past few weeks, outperforming all the altcoins in the market.

The recent surge in the Solana price has been linked to heightened on-chain activities on the Solana blockchain. Notably, the ongoing hype for the blockchain’s speedy transactions, cheap fees, and a lottery of meme coin issuances has buoyed SOL’s on-chain activity. Metrics have revealed that Solana has been the strongest draw among on-chain traders, with trading volumes and network fees outperforming Ethereum- the largest altcoin by market cap.

Cited figures provided by DeFi aggregator DeFiLlama…

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Altcoins

Solana Price Breaches $60 Amid a Symphony of Bullish Indicators

Published

5 months ago

on

December 1, 2023

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Solana price has jumped more than 8% over the past week, breaching the important level of $60. At the time of writing, Solana was trading 3% higher at $61.07. The asset’s total market cap has climbed to $25.9 billion over the past week, ranking it the 6th largest cryptocurrency after XRP. The total volume of SOL traded over the last day has declined by 8%.

SOL’s Bullish Cues

Solana’s price has been among the best-performing cryptocurrencies this year amid continuous growth. The “Ethereum killer” has consistently impressed investors throughout the year on the back of a resurgence in bullishness, which saw SOL’s price climb more than 513% in the year to date. Institutional investors have also shared the bullish sentiment, making Solana their most preferred altcoin.

In the week ending November 24, Solana recorded inflows worth nearly $3.5 million, significantly more than the other altcoins’ inflows combined. The asset’s monthly inflows were higher at $40.2 million, lower than Ethereum’s $99.6 million inflows in the same period. Other altcoins, including Litecoin and Ethereum, noted significant outflows, making Solana nearly half of the home for DeFi. This implies that when it comes to institutions, Solana is currently the best-performing altcoin with the potential of a long-term rally much higher than other digital assets.

Notably, the Solana DeFi ecosystem accomplished a significant milestone earlier this week. Its Total Value Locked (TVL) hit a new yearly peak of over $655 million,…

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