Why is Santander still not using Ripple to make international payments?

Santander, one of the main banks in Spain and one of the main partners of Ripple still hesitates to adopt the XRP as part of its international payments network, One Pay FX. The company reasoned that the token “is not actively traded in enough markets” to support the company’s banking needs.

During a interview with the Financial Times, Cedric Menager, executive director of One Pay FX, explained that Santander wants to provide the “best as quickly as possible” (referring to the user experience). He also said that the bank expects “operate in as many currencies and payment gateways as possible from the start.”

Ripple clarified that Santander continues to use some of the company’s software for its cross-border payment solutions, and pointed out that they consider the Spanish bank to be “one of his biggest and most important clients.”

In February, Ripple’s CEO, Brad Garlinghouse, hinted that banks would soon be less cautious when dealing with digital assets. He stated that once the regulators, referring to the financial watchdogs of the United States, understand that “you are not circumventing regulatory frameworks, you will get very comfortable very quickly.”

Garlinghouse too he claimed that Ripple was used to transfer $ 54 million to Mexico in January. This figure represents 7.5% of the total flow of US dollars to Mexican pesos.

Cointelegraph reported recently that Sygnum Bank, the first cryptocurrency bank licensed by FINMA, will allow its users to invest in Ripple’s XRP token through its electronic banking portal.

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