Santander announces partnership with Ripple for blockchain-based payments app

Announcements | May 30, 2016 By:

The UK arm of Spanish banking group Santander has announced to launch a new payment app in partnership with Ripple before the end of 2016.

The app is currently available to Santander UK staff, but the bank has plans to roll it out before the end of 2016, a move that would make it the first major bank in the country to offer payment services via blockchain to its clients.

“The need for finance has evolved from providing a physical Pound in your pocket or card in your purse, where you pay at a till, to being seamlessly integrated into a new, always on, connected lifestyle. At Santander we work hard to ensure our banking is simple, personal and fair and believe new Blockchain technology will play a transformational role in the way we achieve our goals and better serve our customers, adding value by creating more choice and convenience,” said Santander head of customer and innovation Sigga Sigurdardottir.

Santander is the world’s tenth biggest bank according to Forbes.