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An important representative of American Express, Carlos Carriedo, Ripple has the potential to revolutionize cross-border payments. Carriedo said this during a recent conference in Madrid called Wings of Change Europe. Carriedo is the general manager of company payments.
American Express believes in Ripple
The ripple seems to revolutionize the world of cross-border payments in many different countries. Financial companies and banks use Ripple's services to improve their services and products. The American Express credit card giant seems to be very positive about the future of space.
Carriedo said that blockchain integration was one of the priorities for the company and its future. The XRP virtual currency has attracted the attention of many different companies all over the world. At the same time, he explained that Ripple has the potential to improve the way payments are processed around the world.
It seems that the company has already collaborated with Ripple and with the recognized European bank Santander.
By the way, he cited:
"Blockchain is absolutely an option we are looking at. Just to make sense, we invested in a fintech lab based on blockchain technology, just to figure out how to make the most of this … We did a pilot. testing, collaborating with Santander locally and with Ripple to do only transnational transactions. "
Santander has been working with blockchain technology for a very long time. He has already worked with Ripple and is using the technology provided by the company based in San Francisco. However, the bank still does not use XRP and it seems that it does not intend to do so in the near future.
Carriedo also stressed that there are some aspects that need to be addressed regarding blockchain as a technology. Although there are some challenges that need to be addressed, he said this technology is very promising. He went on to say that digital payments will be made on the consumer and on the commercial side of the business.
To reduce the friction during payments, Ripple has established a business relationship with Ripple. This shows that there are traditional financial companies that are starting to work not only with blockchain but also with cryptocurrencies.
"It's from the other," said Carriedo. "There are still many things that need to be tackled with blockchain as technology, but it's very promising … The future is definitely digital."
Ripple has already partnered with other companies in the space like MoneyNetInt and MoneyMatch. In the future, financial institutions could start using XRP to further reduce transaction costs and time.
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