Banco Santander released an international payments service using blockchain-based technology. Initially, the service is available to retail customers in four jurisdictions: Spain, UK, Brazil, and Poland. Santander One Pay FX enables same-day international payments though in some cases it is next day.
Transfers to Europe arrive the same day which compares to SEPA payments which complete next day at best. The bank plans to roll out the service to more markets and add additional features including instant international transfers.
Ana Botín, Executive Chairman of Banco Santander, said: “Our goal is to help the thousands of people who use international payments services every day, and we will be adding more currencies and destinations in the coming months.”
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