Santander Bank Launches Exarpy: Ripple Based Cross-border Money Transfer App
Santander, a UK based bank has finally released its official cross border payment system, Exarpy, a ripple-based wallet for public. This makes Santander the first International bank to launch a cross border payment system based on blockchain technology.
Ana Botin, Executive Chairman of Banco Santander tweeted via Exarpy’s official Twitter account
"We collaborated with @Ripple , we've been testing for two years.... it works, it's safe, it's fully compliant." – @AnaBotin of @bancosantander for @FT https://t.co/HDYg0tRcRk pic.twitter.com/1c9MqcU169
— Exarpy (@exarpycom) April 22, 2018
The company's UK head Nathan Bostock had already confirmed in January this year that Santander has been trying Ripple's RippleNet and XCurrent platforms for efficient cross-border payments.
Bostock had said during a press conference
This spring, if not one beats us to it, we will be the first large retail bank to carry out cross-border payments at scale with blockchain technology.
Initially Exarpy will be available only for consumers in UK, Brazil, Poland and Spain, but the company plans to expand its domain to various other economically viable markets as time passes and minor app glitches are resolved.
As per @blockonomi,Exarpy is a web-based wallet which can also be used on a mobile's web browser. The wallet does not holds the user fund physically, instead provides application for transactions on ripple network.
The wallet charges 0.025XRP per transaction as a flat fee and there are no other hidden charges. It uses a 16 number PIN code to access the network. The user has to keep this PIN code safe as the account is encrypted and cannot be accessed without it.
The Santander has opened the gate for private banks looking to make an entry into cross-border crypto based payment system, with the launch of Exarpy. This is a great news for the crypto enthusiastic and it will further encourage many across the globe to use alt coins as a mode of financial transactions.
Your Post Has Been Featured on @Resteemable!
Feature any Steemit post using resteemit.com!
How It Works:
1. Take Any Steemit URL
2. Erase
https://3. Type
reGet Featured Instantly & Featured Posts are voted every 2.4hrs
Join the Curation Team Here | Vote Resteemable for Witness
Congratulations! This post has been upvoted from the communal account, @minnowsupport, by xabi from the Minnow Support Project. It's a witness project run by aggroed, ausbitbank, teamsteem, theprophet0, someguy123, neoxian, followbtcnews, and netuoso. The goal is to help Steemit grow by supporting Minnows. Please find us at the Peace, Abundance, and Liberty Network (PALnet) Discord Channel. It's a completely public and open space to all members of the Steemit community who voluntarily choose to be there.
If you would like to delegate to the Minnow Support Project you can do so by clicking on the following links: 50SP, 100SP, 250SP, 500SP, 1000SP, 5000SP.
Be sure to leave at least 50SP undelegated on your account.