Santander would be using Ripple: Spanish financial institution is Ripple’s new client

Ripple seems to continuously get newer and newer clients. The latest addition to its client list is the large Spanish financial institution Santander. This is actually very positive news for Ripple as it seems to consistently attract marquee name clients in the financial world.
The company announced that the banking giant would be using the Ripple protocol in order to move money around. The transactions in Apple pay app would be facilitated by the protocol. Also, some of the countries which would be served by the protocol and application which would be launched include:

• Spain

• Brazil

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• UK

• Poland

This would enable the company to provide its clients with same-day cross-border payments. This would be a huge improvement for the company as currently, it can take a couple of days in order to provide the cross-border payments.

JPMorgan Chase as well as Bank of America and even Citigroup would not allow the consumers to use their credit cards in order to buy cryptocurrencies

An additional cryptocurrency News, JPMorgan Chase as well as Bank of America and even Citigroup would not allow the consumers to use their credit cards in order to buy cryptocurrencies. This comes as a huge setback for the cryptocurrency markets. Also, since the supply lines would now be limited, the interest of the investors can be reduced as well.

Volatility in the cryptocurrency prices increasing

Most of the banks are worried that the consumers would be using the credit card in order to borrow money which they would not be able to pay in the future. Moreover, with the volatility in the cryptocurrency prices increasing, it would be very difficult for the companies to get their money back since the consumers would not be able to liquidate their holdings in order to pay the credit card debt. This is one of the main reasons why many of the banks are cutting out on the debt which is provided in order to buy cryptocurrencies.

This is a huge development for most of the consumers as credit card payments were one of the main modes of transactions when it comes to buying cryptocurrencies.

Related:   Ripple price predictions 2018: Ripple can end the year around $10 (XRP News Today) - Ripple Price Today

On the other hand, when you’re speaking about Ripple, you can be sure that even though it would be impacted somewhat by this ban but there is consistent signing up of newer and newer clients would despite the interest of the investors in order to invest in Ripple. This would be a huge positive for it and it would be able to gain the interest of the investors and keep the prices up as well. So far, even it has been losing value in the current cryptocurrency carnage. However, it is expected that it would be one of the 1st cryptocurrencies which can reverse this trend.

Legal Disclaimer: Smartereum does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice. Investing in cryptocurrencies and other Initial Coin Offerings ("ICOs") is highly risky and speculative, and this article is not a recommendation by Smartereum or the writer to invest in cryptocurrencies or other ICOs. Since each individual's situation is unique, a qualified professional should always be consulted before making any financial decisions. Smartereum makes no representations or warranties as to the accuracy or timeliness of the information contained herein. As of the date this article was written, the author owns small amounts of cryptocurrency.
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About the author


David Malik

Tech blogger

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