Santander, a major Spanish bank and one of Ripple’s most important partners, is still unwilling to accept XRP on its international pay network One Pay FX. The company said the symbol “is not actively traded in enough markets” to support the company’s banking needs.
In an interview with the Financial Times, Cedric Minger, CEO of One Pay FX, explained that Santander wants to provide “the best [user experience] as quickly as possible.” He also said the bank hopes to “handle as many currencies and paths as possible from the beginning.”
Ripple explained that Santander still uses some of the company’s software to process international payments, noting that they consider the Spanish bank to be “one of our largest and most important customers.”
In February, Ripple CEO Brad Garlinghouse suggested that banks would soon be less cautious about digital assets. When regulators understand – with regard to US watchdogs – “you do not get around the regulations, they will feel comfortable very quickly,” he said.
Garlinghouse also claimed that Ripple was used to generate $ 54 million in cash flow to Mexico in January. This figure represents 7.5% of the total flow of US dollars to Mexican pesos.
Cointelegraph recently reported that Sygnum Bank, the first cryptocurrency bank licensed by FINMA, will allow its users to invest in Ripple’s XRP token through the online banking portal.