Santander Bank to partner with Ripple in order to launch Ripple-Powered App

Ripple has partnered with one of its largest clients, Santander Group by announcing a mobile app which is powered by the company’s distributed ledger.

According to the reports, the bank has been managing the app for 18 months with its employees, through combining the Apple Pay for payments between £10 and £10,000 ($14 and $14,000). The reports also describe that the app will be used in Spain, Brazil, the U.K., and Poland.

The customers will be able to use the app in order to place same-day cross-border payments within a minute. This app will also provide a personal finance manager and help person-to-person payments.

A Santander spokesperson told:

“We have planned to launch this in the next few months, and we will make sure on the record that we have planned to use xCurrent in the project.”

Ripple’s xCurrent product does not use XRP, the company’s native cryptocurrency.

Ripple chief executive Brad Garlinghouse declared this to his followers on Twitter, mentioning that the app will be released this quarter.

The plans regarding the project are announced in the bank’s 2017 earning presentation.

The presentation says: