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Ripple Updates: Santander’s expansion and Xendpay

Spanish bank Santander Group announced that they are building a "payment corridor" using ripple technology. Ripple also annou
Spanish bank Santander Group announced that they are building a “payment corridor” using ripple technology. Ripple also announced partnership with Xendpay

Spanish bank Santander Group announced that they are building a “payment corridor” using ripple technology.  It would allow Latin American users to send money to North America via One Pay FX with no fees. Currently, only users from the UK and Spain can send money to the US using One Pay Fx.

One Pay Fx was launched in April 2018. It is an international payments service which uses Ripple’s technology xCurrent. It is only available to users in Spain, Uk, Poland, and Brazil. Cedric Menager, CEO of One Pay FX, said that the bank is planning to expand its services for international payments to Latin American countries. However, he did not mention which Latin American countries would enjoy this service.  The bank has not announced the date of launch yet.

Ripple teams up with XendPay.

Xendpay recently announced that they have teamed up with Ripple to provide their international payment services to  Bangladesh, Malaysia, Philippines, Vietnam, and Indonesia.  Bhavin Vaghela, Xendpay’s Head of Product Innovation, said that there is aim to provide services to migrants who want to send money back home. Vaghela also mentioned that partnering with Ripple would save them a lot of time. Previously they had to create a whole business case for each local partner. Using RippleNet, it would become easier for the platform to settle transactions more efficiently.

Xendpay recently launched its services in African countries, which includes high-value remittance markets like Nigeria, Ghana, Kenya, and South. These deals are followed by Ripple’s investment in MoneyGram previous month.

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