Cryptocurrencies markets are facing a slow down after June 26, 2019. The total market value was $ 385 billions to this date which is now dropped considerably to $ 294 billion. XRP prices are also feeling this heat- trading at 31.8 cents.
Although there is a price drop in XRP, there are some positive developments. The Spanish bank, Santander UK – the UK branch, launched “One Pay FX” which is an online application for payment and it’s driven by xCurrent– an enterprise software solution that makes the banks able to make cross border payments and end-to-end tracking. This produces an additive advantages for XRP.
Now, they has launched a new UK-Poland corridor expanding the scope of this application.
Global Head of Strategic Accounts at Ripple, Marcus Treacher, shared a tweet of Jeremy Light, head of payments in Europe at Accenture, in which a screenshot is shared showing a transaction made to Poland from UK made with “One Pay FX”.
Currently, this application is available only for mobile phone user with IOS operating system. This application allows its customers to send and receive money instantly. A new version of this application, version 1.3.1, was released by Santander on July 11. The new UK-Poland payment corridor is now enabled with this update, and now users can send Zloty(PLN) payments to Poland.
Experts says that despite of down in XRP prices, this updated version will attract more users and will support ripple to better its market value.
— Jeremy Light (@JeremyLight3) 14 de julio de 2019
In the screenshot we can observe that there is no transaction fee, good exchange rate and instant indication that recipient gets 474.81 PLN. Best thing is free transaction because it makes customer to pay more as transaction fee so that the recipient would get required amount, otherwise, it is deducted from the actual money. An additive benefit we can see that the Sterling- Zloty exchange rates are best possible
With the application’s updated version, the customers of Santander UK can transfer money up to 10,000 sterling to 19 countries of Europe and Poland . This new payment corridor is making headlines because this new important update making an effective increase in Santander UK’s scope. Can this be the first step to make “One Pay FX” a global online payment application of cryptocurrencies? We will have to wait a bit to be able to draw more conclusions.