All ICOICO statsRatingReviewsBlogNews Wallets Mining Exchanges Chart Events
Join

Ripple To Form An Alliance With SWIFT? - Ripple (XRP) News. Tuesday, October 9th

09 october 2018, 22:23 by Jesús S. Affigne

Ripple to form an alliance with SWIFT? 

Rumors about this possibility have the crypto community speculating.

The Sibos conference is the most important event for the financial sector worldwide, and it is organized by the current dominant platform for international remittances and payments, SWIFT. With all the buzz that has caused Ripple – the blockchain payment protocol that it is striving to revolutionize cross-border payment services – with their recent developments and partnerships, people would not expect to see both rival platforms together, much less when one of them is hosting the event.

However, a recent report confirms that the San Francisco-based distributed ledger company is making an appearance at the very conference that SWIFT organizes each year. An announcement that put a lot of crypto enthusiasts to speculate with the reason behind this unexpected news.

xRapid-based GPI?

Now, eyes are fixed in what will happen this October 22 – 25, when the Sibos 2018 conference takes place in Sidney, Australia. Many are already betting on a strategic alliance between the 45-year-old company and the 6-year-old blockchain project, in which SWIFT would be making use of any of Ripple’s products to improve their platforms.

This idea come from the fact that a couple of months ago, SWIFT announced that its Global Payment Innovation (GPI) has been improved to settle transactions in about 30 minutes, but according to an interview with Chief Marketing Officer for SWIFT, Luc Meurant, settlements with this technology now take as much as one minute. This has raised eyebrows among the community, as they don’t believe that such feat would be possible by tweaking GPI alone.

But an implementation of a blockchain-based instant cross-border payment platform could help GPI to achieve this feat, according to several crypto enthusiasts. And to several of them, the answer lies within xRapid – the most recent international payments solution by Ripple. An implementation of xRapid into SWIFT’s platform could introduce more than 10,000 banks worldwide to the benefits of blockchain technology, so many are viewing this announcement as very positive for the Crypto industry.

Nonetheless, we will have to wait until the event takes place to see if it turns out to be as expected.

Follow TokenTops on Twitter to stay notified about new articles, cryptocurrency news, ICO announcements and price predictions and analysis.

Legal Disclaimer: Please remember that trading, buying or any other type of investing in cryptocurrencies should be consider risky and may lead to the loss of all of the invested money. For further information visit Terms and Conditions section on TokenTops. We do not encourage our readers to any kind of financial decisions. Neither tokentops.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from tokentops.com. We believe that everyone should make their own and in depth research on the particular topic in various sources before making any financial decision and this person should be the only one responsible for the outcome. Our writers do their best to remain unbiased and don't actively support any project. The research is done with various sources, the predictions are based on own believes, analytical skills, experts and community discussions and is intended to convey general information only.

You may also like

Comments

Write comment 0 comments

You need to login to create comments.

Get the week’s best ICO right in your inbox