Presently, XRP/USD is trading at $0.3043, off the recovery high of $0.3246. Ripple being the second largest coin has a market capitalization of $12.6 which is marginally higher on the daily basis.
Furthermore, the American multinational financial services, American Express examined the Ripple’s xCurrent solution for cross-border payments. Also found the results quite impressive. General manager of corporate payments in American Express spoke at the Wings of Change Europe conference in Madrid that the technology will surely accelerate the international payments.
He also elaborated that they made a pilot, tested having partnered with Santander, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. Also in a matter of seconds, through this test, the clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.
American Express bets on the potential of blockchain technology and also invests in fintech research and development.
He further added
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….
During November 2017, American Express partnered with Santandar aiming to speed up non-card transactions between the US and UK. At present American Express and Santander are eagerly waiting to enlarge their partnership.