Ripple (XRP) is a very known cryptocurrency that is used mostly by banks to process cross-border payments. Ripple has a similar way of working to swift, the main network used by banks all over the world to send and receive payments. Now, Ripple has started a partnership with Santander Bank to launch a Ripple-Powered app and the first Middle East bank will use Ripple for Cross-Border Payments.

Ripple Partnership with Santander Bank

Santander Group has decided to partner with Ripple in order to launch an application that will be powered by Ripple’s distributed ledger. The bank has been managing the application with its own employees by using Apple Pay for payments between £10 and £10,000.


Customers would be able to use the app to process cross-border payments in just a few seconds. Furthermore, the app would provide a personal finance manager and help person-to-person payments.

One Santander spokesperson commented about the application:

“We have planned to launch this in the next few months, and we will make sure on the record that we have planned to use xCurrent in the project.”

According to Brad Garlinghouse, Ripple Chief Executive, the application would be available the first quarter of the current year.

It is important to mention that Ripple’s xCurrent product does not use XRP as a means of payment.

National Bank of Abu Dhabi to Use Ripple for Cross-Border Payments

As we have written, Ripple keeps expanding among banks. The company announced on February the 1st that the National Bank of Aby Dhabi (NBAD) will use Ripple’s solution in order to provide real-time cross-border payments to its customers. In this way, it will be the first bank in the Middle East that uses Ripple’s product.

This will allow NBAD customers to have a more efficient, secure and reliable channel to send and receive payments in the regional market.

Ramana Kumar, Managing Director & Head of GTB Business and Product Management, said about it:

“At NBAD we strive to ensure our offerings are efficient and transparent. Blockchain technology transforms and paves a new way in achieving our goals and better serve our customers, adding value through accessibility and transparency. As an initial adopter and first bank to go live on Ripple, NBAD offers innovative solutions to our clients’ payments needs.”

The UAE is ranked as the fourth top remittance-sending country in the world, accounting for more than $19 billion dollars. Additionally, UAE is one of the most important countries in the region. The partnership will allow the bank to settle itself as a competitive option against other possible national and international competitors.

In addition to it, Ripple will provide special security to the data managed by the bank. International financial institutions are paying close attention to data and its security. Ripple eliminates the requirements of using intermediary banks for transfers, and operates in parallel to the SWIFT system.

Ripple is working with several other banks including private and central banks. There are more than 100 financial institutions included in the list. We can find UniCredit, UBS, ReiseBank, CIBC, ATB Financial and more. Blockchain technology is helping these institutions to offer better products and services, and process payments safely and fast.