American Express Appreciates Ripple’s Technology
December 11, 2018 12:49 pm
Ripple’s fintech using blockchain technology is continuously growing and seems to be bearing positive results from all around the world. Ripple’s cryptocurrency named XRP has also established itself as one of the most important altcoins in the global market cap. The California based startup is receiving appreciation from significant players in the world of finance.
Carlos Carriedo, General Manager of Corporate Payments at American Express, was recently a part of the Wings of Change Europe conference in Madrid. While talking at the conference, he explained that Ripple has the capacity of improving the way payments are traditionally processed around the world.
The general manager said that blockchain is absolutely an option which his company is looking at. He also included that his firm has invested in a fintech lab based on blockchain technology to understand how to leverage this better.
Mr. Carlos Carriedo added:
“We did a pilot. We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions. Cross-border transactions continue to be complex and slow. And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”
According to him, there is a lot more to come, and still, several things must get addressed with blockchain as a technology. However, he is convinced that there is excellent potential in Ripple technology. He added that there are companies that can do the emerging technology faster and in a more inexpensive but we should partner with them.