Ripple and Santander’s New Payment App to Hit Mexico Market

Mexico – Ripple and Santander team up to launch a blockchain-powered payment application that will hit Mexico this 2020. The app called One Pay FX started in 2018. Now, it has six more countries, including Spain, Portugal, Chile, Brazil, the United Kingdom, and Poland.

One Pay FX targets to provide clients with improved certainty and transparency, as well as the customer experience at a sub-optimal state.

Ripple is on the search for an engineering manager who can help in establishing On-Demand Liquidity, as well as controlling the performance of XRP.

The XRP price failed to reach the resistance zone of $0.192 in the previous two days. Now, the price is at $0.176.

The couple shared on a Reddit account how the Ledger Chrome Extension led them to scam, wherein they lost more than 14,000 XRP. However, some community members from Reddit are doubtful on the post of the said victims.

Ripple and Santander Introduce Blockchain-based Payment Provider

Ripple and Santander s New Payment App to Hit Mexico Market

Santander is the 16th biggest bank worldwide, wherein it has assets worth $1.74 trillion that’s under the management. This bank is preparing to introduce a payment application or app called one Pay FX, which is Ripple-powered. Moreover, it’s targeting the market in Mexico this 2020.

In the year 2018, the blockchain-based worldwide payment provider went live. It added six countries, which include Portugal, Brazil, Chile, Poland, Spain, and the United States or the US.

As per a case from the US SEC (Securities and Exchange Commission), the multi-corridor worldwide blockchain app of Santander targets to provide clients with further certainty and clearness. It also aims to enhance the present sub-ideal customer experience, as well as the client tackiness via the best international payment scheme.

Typical borderless payments can reach five days before the process. One Pay FX states that the users can anticipate the fees to contact them on the same day of the transfer while profiting from viable rates.

One Pay FX also offers a unified virtual experience with numerous specifics regarding every transaction. It includes exchange rates, bank charges, estimated delivery time, as well as a notice on the fund received.

One Pay FX utilizes the messaging payment scheme of Ripple to transfer money on different currencies. It’s in contrast to the native token of Ripple, which is XRP. This tech product is a rival to Swift, a worldwide funding network. Moreover, it supports banks in settling real-time fiat-to-fiat exchanges, which is by utilizing the messaging system to clear up and confirm details of transactions.

Ripple Mocks Next-Gen Exchange Platform Related to XRP’s ODL

Ripple and Santander s New Payment App to Hit Mexico Market

Ripple’s new employment opening reveals the desires of the company to establish an exchange platform. The project connects to the On-Demand Liquidity or ODL, a cross-border remittance solution that XRP supports.

Ripple intends to employ an engineering manager, who will assist in building ODL. These engineers will leverage the low transaction charge, scalability, and speed of the third-biggest cryptocurrency by market capitalization.

The job listing by Ripple teases the exchanging scheme of the succeeding generation, combined with ODL.

As per the management, they’re searching for an engineer manager who can lead and mould the ODL customer experience’s team. This manager will also integrate the team in the next-generation exchange project, as well as be a part of the impending trajectory of RippleNet and On-Demand Liquidity.

The hired manager will stay at the San Francisco head office of Ripple, and he or she will devote about 50% of the time in coding and revising the code, design, and architecture.

The performance of the exchange project with ODL is still unclear. The Chief Technology Officer of Ripple named David Schwartz previously unveiled that it’ working on an aspect, which might allow users to introduce asset-supported altcoins on the XRP Ledger.

Last year, in September, Ripple developed the Logos Network. The company anticipates the decentralized remittance startup to support Ripple in establishing distributed funding schemes on the XRP Ledger.

Schwartz stated that the team from Logos would lead a continuing enterprise as part of Xpring. It will discover a Decentralized Financial or DeFi scheme, which will influence XRP in the core. Also, the team is exploring to control cryptocurrency to convert finance and payments as part of their other ideas. Moreover, the Logos team will convey more horsepower to what the team from Xpring can provide.

Ripple introduced ODL back in the year 2018, wherein it’s to provide funding institutions and banks with a controlling-compliant method to transfer money globally with the help of XRP.

ODL depends on cryptocurrency exchanges to take cash and move the equal value in XRP on borders. It can convert crypto to fiat currency. Moreover, MoneyGram, the partner of Ripple, is the most significant ODL user. It moved 10% of the everyday-volume between Mexico and the US via the technology.

XRP Price at $0.176 Faces Hefty Resistance at $0.192

Ripple and Santander s New Payment App to Hit Mexico Market

The XRP price action took a different path from Ethereum and Bitcoin, wherein this digital asset is the sole one to have reports about gaining in the previous 24 hours.

In the past two days, the price of XRP followed in crossing the previous rising triangle. It can’t rise over the resistance level of $0.192 because of the bearish Fib retracement level of .618/ Moreover, the XRP price presently sits at $0.176.

The initial resistance level of Ripple’s XRP is at $0.182, wherein pushing over it, the resistance is at $0.192, $0.22, and $0.29. The Relative Strength Index or RSI was able to reach over 50. On the other hand, it fell back to the mid-level after the rise. The fall indicates that the vendors regained control. Hence, it might put Ripple under the line.

The XRP price jumped back from the lows of 2020, thanks to the market crash. It recovered 13% throughout the previous three days to hit the SAT of 2800. Moreover, the XRP price withdrew, which went down to the SAT level of 2710.

The primary resistance level of XRP is at the SAT of 2760 before it established the SAT of 2800. Hence, the resistance zones are 2850 and 2900 SAT.

The RSI breaks over the 50-level, which indicates that purchasers are recovering control in the market impetus. If it stays in play over the 50-level, the price of XRP might rise to an SAT level of 2850.

Couple Loses More Than 14,000 XRP due to Ledger Chrome Extension

Ripple and Santander s New Payment App to Hit Mexico Market

One United Kingdom or UK citizen named Lean Nekera posted on Reddit on March 28 about how she and her spouse lost an estimate of 14,800 XRP or $2,500 from utilizing a Ledger extension, which was on the Google Chrome browser. Some members of the community observed a mistake from the two, which lead to rage responses, having more than 60 comments.

As per Nekera, she moved the XRP funds to the Chrome browser extension from the offline Ledger wallet. Some experts labelled the transfer as a scam. Extension blips that re-appear on the Chrome appl store reported more cases of scams since the year 2018, while the app is not working.

Despite the report about Nekera’s scam incident, it raised doubt on members of the Reddit community. The account listed significant transactions in the previous days, aside from the 14 million XRP coins in her wallet.

Nekera reported the incident to authorities such as FBI, the local fraud department in the UK, and Ripple. As per the reports from XRP Forensics, the account scammed depositors in the previous month, which is worth 1.4 million XRP.

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Jamie West

Jamie is an XRP veteran & keeps his finger on the pulse when it comes to all things crypto.

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