AMEX Partners With Ripple For Blockchain Payments
XRP partnering with AMEX for overseas Blockchain payment structure.
As adoption continues to grow, partnerships that utilize Blockchain technology are exploding. The most recent is an important connection between American Express (AMEX) and Ripple (XRP) to create a Blockchain-based payment infrastructure. Per the announcement, the platform is already being used.
The specific application is for Business to Business (B2B) payments between US corporate customers and UK based customers banking with Santander UK. The service will provide real-time trackable payments between customers.
AMEX and Blockchain
This connection is just one in a long journey for Amex, per the company’s press release. According to AMEX CIO Marc Gordon:
“American Express has a long history of integrating new technologies. This collaboration with Ripple and Santander represents the next step forward on our Blockchain journey, evolving the way we move money around the world.”
The connection for Ripple is a substantial win, especially in light of recent problems with legal issues after a dispute over a huge number of XRP coins with startup R3. As the company continues to gain use cases, value in the coins has continued to climb. The XRP price at press time had risen 17 percent to $0.24.