The global event run on various cities – The Money 20/20 came to its closing in Amsterdam. During the event, various minds from the financial system, fintech and blockchain tech get together and discuss the most recent. This event is where Ripple’s CEO, Brad Garlinghouse, was quoted as saying that more and more banks were continually embracing Ripple’s technology.
By the end of this year, major banks will use xRapid as a liquidity tool. By the end of next year, I would certainly hope that we will see…in the order of magnitude…of dozens. But we also need to continue to grow that ecosystem…grow the liquidity.
This does not even close take away Ripple’s other product xCurrent showlight. It is the main engine behind Santander’s OnePayFX which has turned the international money transfer industry very excited. This is because the mobile app can complete international payments in seconds.
This strong portfolio that the Ripple’s products are showcasing that made American Express also announce the use of xCurrent to increase the transaction speed. This officially was made known during the Money 20/20 event.
Colin O’Flaherty, American Express’s VP & General Manager of global commercial services UK & Russia, had this to say during the discussion at the event:
Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds. And that provides a real opportunity to alleviate most of the issues our customers are facing.
Infusing the already existing American Express infrastructure with xCurrent blockchain based system will benefiting heavily the SMEs that facilitate payments of goods to users.