SWIFT 2.0? Ripple Signs Major Banks to Blockchain Payments Deal
Today, Ripple announced that they have struck an accord, a first of its kind, with several major banking interests to created the GPSG, or the Global Payments Steering Group. Bitcoin has been the king of digital coins for a long time, and no altcoin has really been able to make a mainstream dent in its domain to this point. Ethereum had its run to start the year, but it devised its own roadblock to success called DAO that it is still trying to recover from. Rather, Ripple has been working in the background quietly, making friends in the banking industry and influencing people to use it for....
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Ripple has made yet another move in its long-running campaign to reshape global payments, this time acquiring Palisade, a digital asset custody infrastructure company. The deal marks the company’s fourth acquisition in recent months and is a clear escalation in what many describe as the company’s competition with SWIFT, the dominant global payments messaging network. […]
Ripple has formed a six-bank Global Payments Steering Group (GPSG), calling it “the first interbank group for global payments based on distributed financial technology.” A New SWIFT Challenger. Although the announcement does not mention it explicitly, the new network is a potential challenger to SWIFT. First activated in the 1970s, SWIFT is the global....
Payments giant SWIFT is developing a blockchain-based ledger with 30+ top banks and Consensys, aiming to enable 24/7 cross-border payments. SWIFT Is Working With 30+ Global Financial Institutions On A Blockchain Ledger As revealed in a press release, SWIFT is planning to add a blockchain-based ledger to its infrastructure stack, in collaboration with a group […]
Thursday, Blockchain company Ripple announced that it had raised $55 mln in funding. Accenture Ventures, SCB Digital Ventures, the venture arm of Siam Commercial Bank and Santander Innoventures are just a few of the investors who participated in the Series B funding. Additionally, Ripple has secured partnerships with major banks, including Standard Chartered, BMO Financial Group, and Shanghai Huarui Bank. In the near future Ripple plans to partner with even more banks, which are planned to use the service it provides to improve cross-border payments. Overall, Ripple has received over $93....
Crypto pundit Chad has drawn a connection between Ripple and XRP with SWIFT. This comes as Ripple continues to expand its payment services and other operations, further integrating XRP and RLUSD into traditional finance (TradFi). Pundit Draws Attention To The Connection Between Ripple And XRP In an X post, Chad noted that Ripple Treasury and XRP are now connected directly to SWIFT. This came as he highlighted Ripple’s listing of SWIFT as one of its connectivity partners for payments. The treasury management firm stated that it is part of the SWIFT Certified Partner Program. Related....