Category Archives: Blockchain for Europe

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American Express Praises Ripple for Cross Border Payments

american express

According to a top American Express representative, Ripple has the potential to revolutionize cross-border transactions globally.

Speaking in Madrid recently at the Wings of Change Europe conference, Carlos Carriedo, the credit card giant’s general manager of corporate payments indicated this was one reason that blockchain integration was high on the company’s agenda for change.

Clearly, Ripple’s XRP has caught the eye as the preferred blockchain route for the company moving forward, if Carriedo’s views are a clear representation of the Amercian Express’ programme for future development of financial services around the globe. He explained why his company was looking at Ripple becoming a significant blockchain partner in the future:

“Blockchain is absolutely an option we’re looking at. Just to give you a sense, we have invested in a fintech lab based on blockchain technology, just to understand how to leverage this better…We did a test, partnering with Santander locally, and with Ripple to just do cross-border transactions…And in a matter of seconds, through this test, our clients were able to transfer funds in a very transparent and seamless way, from one part of the world to the other one.”

Ripple itself has just joined three other partners to form a European blockchain called “Blockchain for Europe” in order to bring together what it describes as “fragmented” voices in Europe into a “more unified whole” in matters of the blockchain. Such moves are sure to offer confidence to intuitional players such as American Express, in the fact that Ripple is becoming a far more representative voice for the blockchain industry as a whole, despite its Bitcoin purist detractors.

Ripple is spreading its global network. And by working with American Express, collaborating with Santander to reduce the current inefficiencies of cross-border payments it has heightened its global profile. Also, significantly Ripple has gained approval to operate in China, opening up other opportunities in the region.  By using Ripple, Santander has stated that it wants to fundamentally change cross-border payments universally by establishing a strong alliance between the two companies. AM’s Carriedo again, speaking of the future of payments:

“There is more to come. There’s still a lot of things that need to get addressed with blockchain as a technology. But it’s very promising…The future is definitely digital. Digital is the way payments will continue to be across both the consumer part of the business the commercial part of the business”.

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“Blockchain for Europe” Formed with Ripple as 1 of 4 Founders

“Blockchain for Europe” Formed with Ripple as 1 of 4 Founders

The formation of a “Blockchain for Europe” association has been revealed by a press release which names Ripple, NEM, EMURGO/Cardano and Fetch.AI as the founding members.


Published on UK-based technology and finance news website Finextra on 5 Dec, the press release describes that association as “the first credible attempt” to establish a “unified voice” for the European blockchain industry. It argues that policy debates are “fragmented – with inconsistent information from those outside the blockchain sector challenging consensus within it”.

As such, the four members of Blockchain for Europe are taking it upon themselves to educate EU and member-state institutions on the “true nature and potential of distributed ledger (DLT) and blockchain technology”. Like many of the associations before it, Blockchain for Europe echoes concerns with regards to regulations and desires to establish ones that promotes innovation in the region.

Associations in action

There are some merits to the existence of so-called associations as they can often be catalysts for positive change, which is done by pushing pro-blockchain agendas for multiple facets of the industry. They can also function as a means to signal how invested a particular part of the world is in the technology whilst providing direct support for startups and educating bureaucrats and lawmakers.

For example, Mexico recently established its first blockchain consortium that wishes to make uses of the technology safer, reduce crime-related uses of the tech, provide public education and so on. Additionally, the Korean Blockchain Association strives to bring the legalization of domestic initial coin offerings (ICOs) to fruition, a topic that is of great concern to industry heads and the government over fears of startups seeking ICO-friendly jurisdictions.

For Europe

The association is ambitiously setting out to “shape the global agenda on blockchain”. Having already hosted the Blockchain for Europe Summit in November, where international stakeholders discussed healthcare, transport, trade, tokens, cryptocurrencies and more, the association is prepping to make 2019 and formative one.

Commenting in the press release, Dan Morgan, Ripple’s European Head of Regulatory Relations said: “This is a critical time for policymakers in Europe as they seek to develop the right regulatory framework to capture the benefits of both digital assets and blockchain technology.”

Unlike some governing entities around the world, Blockchain for Europe may not be coming up against egregious skepticism. Generally speaking, the EU has positioned itself as a cautious yet optimistic advocate of blockchain technologies. An October meeting in Strasbourg, France, saw Members of the European Parliament (MEPs) debate on how to create “legal certainty” for blockchain, and furthermore, enthusiastically discuss the potential of blockchain.

Additionally, the vice president of the European Commission famously stated that “crypto-assets are here to stay”, offering a positive outlook to startups and enterprises that are venturing into the cryptocurrency and ICO sector of the blockchain industry.

Also offering his thoughts, Manmeet Singh, CIO at EMURGO said: “…we are very keen to work with the European institutions in crafting the rules and regulations which will enable blockchain technology to thrive globally.”


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