According to a recent report, Santander, a Spanish Banking Giant is bringing its Ripple-powered payment solution to Mexico this year.
This development was revealed in a Form 20-F filed with the United States Securities and Exchange Commission (SEC) at the beginning of this month.
The report pointed out that One Pay FX will come to Mexico in early 2020 through Santander.
One Pay FX was launched in 2018 to bring about money transfer solutions and leverage RippleNet to settle cross-border transactions.
According to Santander, the solution offers transparency, better speed, and competitive cost, coupled with improved user experience.
Going by the Form 20-F, the functionalities of One Pay FX are now accessible by Santander’s customers in Spain, United Kingdom (U.K), Brazil, Portugal, Chile, and Poland.
Additionally, Santander had claimed that the solution will be made available across all its markets.
Ripple is supported by Santander’s capital arm InnoVentures, which invested $4 million in Ripple’s $32 million series A funding in 2015.