cryptodaily.co.uk: AMEX Ripple Tests Successful

  • Thursday, 13 December 2018 12:00
With a wave of support for the adoption of blockchain technology, the general manager of Corporate Payments at American Express, Carlos Carriedo, has suggested that its pilot tests of real-time cross-border institutional payments using Ripple technology have been successful. Earlier in the week, Carriedo spoke at the Wings of Change Europe event and made it clear the American Express has got a strong interest in the technology behind blockchain. The general manager said: “Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a FinTech lab based on blockchain technology, just to understand how to leverage this better.” Carriedo went on to point out Ripple specifically which is working with American Express and Santander in order to test a blockchain powered, cross-border payments solution. According to Pymnts, he went on to add: “We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.” In 2017, American Express teamed up with the blockchain network RippleNet to provide real-time B2B. The collaboration sees American Express FX global payments joining up with Santander UK in order to design a mechanism to transfer corporate funds between the United States and the UK in the real time. “There is more to come. There’s still a lot of things that need to get addressed with blockchain as a technology. But it’s very promising. … The future is definitely digital. Digital is the way payments will continue to be across both the consumer part of the business and the commercial part of the business.” As the same conference, Carriedo gave praise to Ripple saying that they are doing a great job in enhancing the global payment processing system through the native token of the platform, XRP as well as other financial tools. In addition to this, he added that Ripple has a lot of potential and that the future of payment processing will be something that is done completely digitally. You can read more on the what else Carriedo said here: What are your thoughts? Let us know what you think down below in the comments!

Additional Info

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Disclaimer: As a news and information platform, also aggregate headlines from other sites, and republish small text snippets and images. We always link to original content on other sites, and thus follow a 'Fair Use' policy. For further content, we take great care to only publish original material, but since part of the content is user generated, we cannot guarantee this 100%. If you believe we violate this policy in any particular case, please contact us and we'll take appropriate action immediately.

Our main goal is to make crypto grow by making news and information more accessible for the masses.