Ripple Receives Praise From American Express
This year has been a funny one for Ripple (well, cryptocurrencies in general) and recently, the firm has received quite a lot of praise from the American Express for its great job in enhancing the global payment processing system through its native token XRP and other financial tools.
Carlos Carriedo is the General Manager of the American multinational financial service organisation corporation, Amex, who has spoken on the ability of Ripple when speaking in a recent conference in Madrid. The Wind of Change Europe conference in Spain saw the Amex employee give praise to RIpple for helping the financial service company to get to its objective in payment processing. He even went on to say that blockchain technology is the solution to financial technology.
This was proven in the test carried out with the banking giant Santander, and Ripple, which ended up proving the true capacity of Ripple’s technologies, as customers were able to shift massive amounts of funds quickly across the border. The impressive thing about this is that this occurred when the system was quite slow.
Carriedo said that Ripple has a lot of potential and that he sees the future of payment processing as something which will all be done virtually. In order to make this happen, Amex will join up with Ripple in order to cut down the obstacles that affect the legacy payment system.
Ripple Labs has been right at the front of the lines in terms of improving and effectively changing the financial world as we know it. The company seems to have this through its streamlined financial tools, said tools have been now adopted by banks and many other payment processing platforms.
American Express has recently revealed that it will be utilising the potential of Ripple’s xCurrent, which has also been the main support to Santander’s OnePayFX service which is now a worldwide accepted money transfer tool. This is a mobile app which can finish global transactions in a speedy manner. The company also works with Santander to leverage on this tool functioned by Ripple.
One of the aims of Ripple is to gain adoption on a worldwide scale which was stated by its CEO Brad Garlinghouse and with some big authorities in the financial industry teaming up with Ripple, this might not be too difficult.
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