American Express Using Ripple’s xCurrent
During a panel discussion at the Money 20/20 Event in Amsterdam, American Express announced that it was also using xCurrent to increase the transactions speeds for its payment processing platform.
xCurrent provides a fresh blockchain-based infrastructure for global obligations by integrating it with the already existing American Express infrastructure. Consequently, the Small and Moderate Enterprises that facilitate obligations of goods and solutions to customers regularly, are the primary beneficiaries of the effective services that’s consequently of the integration of both platforms.
Colin O’Flaherty, American Express’s VP & General Manager of global commercial services UK & Russia, stated at the event:
Ripple offers instantaneous, point-to-point conversations between the sender and receiver of funds. And that provides a real opportunity to alleviate most of the issues our customers are facing.
American Express transactions should be as fast as the OnePayFX application by Santander. American Express aims to increase this new integrated providers the same manner Santander is thinking about rolling out the application across different countries around the world.