Santander Group

Ripple entered into an agreement with one of its largest customers — the Santander Group, announced a mobile application based on a distributed registry of the company.

According to Finextra, Santander Group tested the application within 18 months from its employees, combining Apple Pay for payments from 10 to 10 000 pounds (14 — 14 000 USD). The app will be released in Spain, Brazil, USA and Poland, according to information provided by the company.

According to the data, customers can use the app to facilitate unilateral cross-border payments in less than a minute. The app will also provide the services of a digital wallet, a personal Finance Manager and assisting in the distribution of payments.

"We plan to launch the app in the next few months and we can confirm that we plan to use the platform xCurrent in the project" — said the press-Secretary of the Santander.

It is worth noting that the platform xCurrent from Ripple does not use tokens XRP.

The Executive Director of Ripple Brad Garlinghouse announced the news to her Twitter followers, noting that the application will be launched this quarter.

Ripple has spent about $84 million in XRP tokens from your $ 1 billion that were in January's reserves, according to current market prices.

Last month, the company had access to a 1 billion XRP tokens, which means that the remaining 900 million returned to escrow by the end of January. Funds were transferred back through two transactions, with 900 million XRP tokens are worth $757 million at the moment.

The process of changing the escrow Ripple was developed as a way to increase the credibility of XRP. Because of retention of token company Ripple and restrict access to them even for developers were prevented, the process of mass sale, which could significantly reduce the price.

Every month 1 billion XRP tokens rasplachivatsya for internal use of funds by the company. Ripple previously used an average of about 300 million tokens XRP in a month — apparently, the company requires fewer tokens than originally planned to conduct its activities.