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Santander is Launching Distributed Ledger Technology Based Payments for Individuals

According to Santander’s Q4 results release, the bank is getting ready to launch “same day mobile international payments in “3 clicks & 40 seconds” for all their retail customers using distributed ledger technology.”

This new service will be active in the first quarter of 2018, in four countries, Spain, Brasil, England and Poland.

Santander is expected to be one of the first global bank to  roll out Distributed Ledger Technology based
payments for individuals.

At the bottom of the page 44 of the Q4 Results there is the Ripple logo, meaning that this new payment method is probably built on Ripple and XRP. There are no confirmations about this yet, but the partnership that was going on between the companies is well known.

In May 2016, Santander announced that they were the first U.K. bank to introduce Ripple’s blockchain technology to facilitate international payments through a new app.They were rolling it out as a staff pilot, with the intention to expand the technology at a later date. And that date has come.

We expect a confirmation and more details soon from Ripple and Santander, we will keep you up to date.

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