Ripple’s international partner, Banco Santander, which is a Spanish multinational commercial bank and financial services company, recently won an award titled Financial Innovation Award at the FIAwards 2018 held at Hilton London Bankside. The award was won by the bank for integrating Ripple’s blockchain technology into its service called OnePayFX. In a tweet written by Marcus Treacher, the Global Head of Strategic Accounts at Santander stated:
“Santander wins Financial Innovation Award 2018 for #onepayfx. Their International payment solution that runs on @Ripple. We’re delighted with this news!”
Santander partnered with Ripple earlier this year for OnePayFX to provide its customers with the luxury of quick payment settlements for international transfers. When the service was launched, the customers from Spain, UK, Brazil and Poland could utilize the facility. In its official press release at the time of launch, Santander also wrote:
“As well as being faster, the service also shows customers the exact amount that will be received in the destination currency before they make the transfer.”
In the same release, Santander also talked about its fintech venture capital fund worth $200 million that was invested in Ripple in the year 2015. Moreover, there were at least 20 investments that ranged across several fintech startups revolving around artificial intelligence, big data, payments, blockchain, financial advisory, automobile finance/mortgages and SME.
One Pay FX uses xCurrent that is one product that runs under the RippleNet. Other products under the same umbrella are xRapid that uses XRP to provide liquidity and xVia, which is an API that makes access to the RippleNet simpler for the users.
Charlie Crypto, a member of the cryptocurrency space and a HODLer on Treacher’s tweet commented:
“congrats. hopefully theres many more awards to be won now that your powered by ripple”
Another Twitter user and blockchain space follower stated:
“Courageous decision and therefore well deserved! Congratulations!! Early adopter Banco Santander!!”
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