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Ripple will revolutionize cross-border payments worldwide, according to American Express

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The US financial services company American Express operates globally and is best known for its credit cards. According to Carlos Carriedo, executive director of corporate payments for American Express, Ripple has the potential to revolutionize cross-border payments worldwide. He explained this in an interview at the conference “Wings of Change Europe”. At the same time Carriedo explained that for this reason the Blockchain is of interest to American Express.

So he said:

“The blockchain is a possibility that we need to review. As a guide, I can tell you that we've invested in a fintech company for blockchain technology just to understand how we can make better use of the technology. “

Apparently, the company has Ripple XRP as the preferred blockchain solution for the future in view. Carriedo explained:

“We entered into a local partnership with Santander for a pilot test, as well as with Ripple [Labs] for cross-border payments only. Such cross-border transactions remain complex and slow. Through testing, we found that our customers were able to transfer funds from one part of the world to another very transparently and seamlessly in just seconds. “

With regard to the future of payments, Carriedo said:

“More will come. There are still many things that need to be clarified in terms of the technological side of blockchain. But it is very promising. (…) The future is always digital. “

Ripple and his partnerships

Ripple Labs recently entered into another partnership with three other companies. Together they form a European lobby association called “Blockchain for Europe”. Through this union, the various European regulations on Blockchain are to grow together to form a whole. So the union wrote:

“The aim of the Association is to foster understanding of the EU and its Member States' understanding of the true nature and potential of distributed ledger technology (DLT) and blockchain technology. In addition, the association should ensure that future regulations promote and encourage innovation in Europe. “

Steps like this probably also boost the trust of big companies like American Express. As a result, Ripple is becoming more and more a voice of the blockchain industry as a whole, even if Bitcoin fans like to criticize it.

Ripple Labs is constantly expanding its worldwide network. Working with American Express and Santander, Ripple demonstrates how to overcome the current inefficiency of cross-border payments. At the same time, Ripple Labs is sharpening its corporate profile. Santander has also announced that it intends to fundamentally change cross-border payments by working with Ripple Labs worldwide. It is also noteworthy that Ripple Labs has succeeded in becoming active in China through American Express. That should open up further opportunities in the region.

Sources: YouTube, The Next Web, Pixabay

Author: Peter Joost – Source Post: https://www.kryptovergleich.org/ripple-will-bonding-payment-worldwide-revolutionieren-laut-american-express/

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