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American Express (Amex), the multinational financial services company known among the Crypto community for their growing interest in blockchain technology, is again present with positive comments on blockchain technology and praising Ripple.
During the Wings of Change Europe conference, Carlos Carriedo, director general of corporate payments at American Express, indicated that Ripple has the potential to improve cross-border transactions worldwide.
Regarding the above statement, Carriedo also said that this was one of the reasons why Amex is so interested in blockchain technology and adamant about its potential integration:
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 understand how to make the most of it.
He then explained the spread of the Ripple network by collaborating with American Express and Santander to test cross-border transactions.
We did a test, collaborating with Santander at the local level and with Ripple to do only transnational transactions … And in a few seconds, through this test, our clients were able to transfer funds in a transparent and transparent way, on the one hand of the world to the other.
Ripple is establishing a global profile
Reading the comments above, it is clear that Ripple is establishing its global profile by working closely with large financial entities like American Express, Santander and others.
For example, Ripple recently broke into the Chinese market through the Joint venture between AmEx and LianLian Group. Ripple demonstrated the superiority of blockchain technology for cross-border payments compared to traditional systems and both American Express and Santander recognized it.
There are relationships Santander UK's head of innovation, Ed Metzger, said he wanted to change cross-border payments by establishing a strong alliance between Ripple and themselves.
Therefore, it is clear that large financial entities are seeing the power of Ripple's blockchain technology and cross-border payment system, RippleNet.
Despite the positive developments, Carriedo recognized the need to tackle some aspects of blockchain technology before Amex considered a massive implementation. However, it does not need to convince that Ripple's technology is revolutionary.
There is something else to come. There are still many things that need to be addressed with blockchain as technology. But it is very promising … The future is definitely digital. Digital is the way in which payments will continue to be both in the consumer business and in the commercial part of the business.
When do you think that large financial entities will use XRP for cross-border payments? Or will they use Ripple technology without XRP? Let us know what you think in the comments section below.
