tl;dr
Santander Bank has successfully implemented a fully operational blockchain-based payment system called One Pay FX, developed with Ripple technology. This system optimizes cross-border transactions between Europe and South America. The deployment confirms Ripple's infrastructure is actively used by a...
Crypto researcher SMQKE recently highlighted a document confirming that Santander Bank has successfully deployed a blockchain-based payment system utilizing Ripple technology. SMQKE stressed that the One Pay FX system, developed in collaboration with Ripple, is a fully implemented and operational product rather than a speculative or experimental project.
According to the document, Santander, one of Europe and the UK's largest banking groups controlled by the Banco Group, is recognized as a pioneer in blockchain adoption within the financial sector. It confirms that Santander has implemented a fully functioning One Pay FX payment system running on blockchain, designed specifically to optimize cross-border transactions between Europe and South America.
SMQKE’s disclosure underscores a significant milestone in blockchain utility by a major financial institution, aiming to dispel any doubts about Ripple technology’s production-level use by Santander. The system’s description as “fully functioning” reinforces that Ripple’s infrastructure actively contributes to international financial operations.
Community feedback, such as from user AlphaTraveler1, suggests the implications extend beyond current public knowledge. Comments highlight the possibility of other companies testing or already deploying Ripple’s blockchain solutions, hinting at a broader wave of institutional adoption—although such claims remain speculative without further documentation.
The One Pay FX solution, long discussed in fintech circles, is confirmed not to be in trial but fully integrated into Santander’s payment infrastructure. Its scope goes beyond Europe, aiming to improve cross-border payments using distributed ledger technology between Europe and South America. While Santander has not issued additional public statements, the confirmation of Ripple’s role in a Tier 1 global bank’s payment system marks a pivotal moment in assessing the maturity and relevance of enterprise blockchain applications.
SMQKE’s focus on this verified citation highlights an effort to independently validate Ripple’s evolving contribution to the financial ecosystem, reinforcing confidence in blockchain’s expanding role in international finance.