Banco Santander, the Spanish financial institution, has announced that it will be launching a phone app based on Ripple's blockchain technology.

Despite the recent crypto market volatility and widespread speculation on the longevity of cryptocurrency, Ripple seems to be one area of the crypto world that is not being at all slowed down by the tumultuous atmosphere we are currently witnessing. The new collaboration is the first partnership between a UK bank and a company offering blockchain technology. The app will reportedly be available for use by Santander customers in the first half of 2018.

The app is designed to support international, same-day payments helping to alleviate the issue of time delays when it comes to making and receiving international payments. The Ripple blockchaincould potentially see international payments being made in mere minutes. The app will also allow people to make person-to-person payments and will also provide customers with a wallet for coins. The app will also provide users with a 'finance manager' to oversee all transactions and to offer advice.

While Santander is utilising Ripple's blockchain technology for the development and running of the app, they have chosen xCurrent as their crypto of choice.