26 May '16, 5pm

Santander UK to Launch Ripple-Powered Payments App in 2016

Santander UK to Launch Ripple-Powered Payments App in 2016

The UK arm of Spanish banking group Santander has developed a new payments app in partnership with distributed ledger startup Ripple. The app, announced today, 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 project is a product of the continued relationship between the bank and Ripple, an association that began in earnest when Santander InnoVentures, its venture capital arm, invested $4m as part of Ripple’s $32m Series A funding round last year . Santander head of customer and innovation Sigga Sigurdardottir, positioned the app within the context of providing more digital services to its customers base. Sigurdardottir said in a statement: “The need for finance has evolved from providing a phy...

Full article: http://www.coindesk.com/santander-uk-payments-app-ripple/

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