American Express launched blockchain-enabled instant payment system. The system was elaborated in cooperation with Ripple FinTech company and British Santander bank.

According to the official webpage of American Express, the system was designed for making business-to-business (B2B) cross-border payments.

“American Express has a long history of integrating new technologies into innovative products and services. This collaboration with Ripple and Santander represents the next step forward on our blockchain journey, evolving the way we move money around the world,” said Marc Gordon, Executive Vice President and Chief Information Officer at American Express.

“We’re taking a huge step forward with American Express and Santander in solving the problems corporate customers experience with global payments. Transfers that used to take days will be completed in real-time, allowing money to move as fast as business today. It is just the beginning,” CEO of Ripple Brad Garlinghouse said.

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