Santander, a Ripple partner and leading retail and commercial bank headquartered in Spain, apologized in a tweet about misinformation regarding the use of XRP for international payments and corrected their statement hours after the incident.
A Twitter user Wes G [@wesgranger] tweeted:
“Hi all how is Santander getting on with using XRP for payments ?”
Santander replied saying that they were using XRP for international payments.
Hey Wes, we’re doing great. We’re using XRP for international payments to 18 EU countries and the USA. This is on our iPhone app called One Pay FX. ^TC
— Santander UK Help (@santanderukhelp) March 23, 2019
Santander’s tweet sent the XRP fans into a frenzy as they ‘found proof’ that Santander was using xRapid for international transfers.
This development was important as the XRP community believed that xRapid and xCurrent 4.0 [which also uses XRP] would push the price of XRP higher. This has been the long-standing belief of a lot of people in the XRP community.
xRapid is a payment solution developed by Ripple that leverages XRP to source liquidity and allows payments to flow without friction across the borders. Ripple partnered with more than 250 partners, including banks and other financial institutions, in order to bring them onto a single network called RippleNet.
There were a few who weren’t sure about the rumor and said that if XRP was actually being used by Santander, there would be a huge volume on the XRP Ledger.
However, Santander corrected their statement a few hours later via a tweet that read:
“We are sorry, unfortunately due to a misunderstanding we have given incorrect information. We do apologise for the confusion this has caused. One Pay FX uses xCurrent only.”
This was the second rumor that the XRP community braced with after misinformation about the Cobalt update was put to rest by the lead scientist at Coil, who is also the main man behind the update.
@stefanhash, a Twitter user commented:
“Well #xcurrent has #xrapid integrated ! They didn’t mistake , they just realize they give inside informacion !”
@francovgaete, another Twitter user commented:
“kind of relief.. if volume and prices are like this even with them using #xrp to move money to over 18 countries, then something was very wrong…. phew!!”
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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.