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Ripple is getting a lot hotter these days. Recently, American Express or Amex used xCurrent, one of Ripple's products. As a result, the company has already passed the preliminary tests and satisfied with the positive result.
Amex commends the wave for cross-border payments
Forbes has previously reported that American Express, a multinational financial services company, is introducing Ripple's blockchain for the transfer of the fund to companies located in the United Kingdom. However, the company successfully completed its testing phase and unveiled Ripple's potential for their international payments. At the Wings of Change Europe conference in Madrid, general manager of Amex for corporate payments, Carlos Carriedo said he had partnered with Ripple and Santander, the local bank to optimize international payments with Ripple technology.
With his own words,
"We did a pilot, we did a test, working with Santander on a local level and with Ripple to do only transnational transactions, cross-border transactions continue to be complex and slow, and in a few seconds, through this test, our customers were able to transfer funds in a very transparent and transparent way, on one side of the world "
xCurrent and Hype of Ripple & # 39; s Technology
xCurrent is a new business software solution developed by Ripple to facilitate instant bank cross-border settlement with real-time and end-to-end monitoring. Despite the crash at the end of the year in the cryptocurrency market, many companies and enthusiasts still see the potential of cryptocurrencies and the underlying technologies. In order to ensure that international payments behave well with the implementation of xCurrent, Amex has invested heavily in the research and development of fintech. According to Carlos Carriedo, Amex has "invested in a fintech lab based on blockchain technology" which he adds
Just to understand how to make the most of this & # 39;
Ripple's latest partnership and the launch of various products finally raised eyebrows from key market players and solicited the founding members of Ripple to bet on its future expansion.
In addition, Amex's FX International (FXIP) partnership with ripple and Santander was designed to provide paper-based non-paper payments in real time from the United States to the UK.
Summary
Item name
American Express Steps for the toes of xCurrent, Ripple's last tested product
Description
Ripple is getting a lot hotter these days. Recently, American Express or Amex used xCurrent, one of Ripple's products. As a result, the company has already passed the preliminary tests and satisfied with the positive result.
Author
tabassum
Publisher name
Coingape
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