(Reuters) - American Express SXP.N on Thursday said it was working with Ripple, a blockchain solutions provider, to enable cross-border payments in partnership with Santander UK.
The card issuer said its foreign exchange international payments business will make blockchain-enabled payments available to its customers, which will help reduce the time and cost of settlement. (reut.rs/2j1YmgG)
The Ripple network will help connect U.S. customers to the UK, Amex said.
Santander UK is a financial services provider in the UK, wholly-owned by Spanish Santander Group (SAN.MC).
Reporting By Aparajita Saxena in Bengaluru; Editing by Martina D'Couto