XRP Is Already Penetrating SWIFT’s Network Through Multiple Entry Points, Exp...
The long-debated question of whether XRP could ever integrate into SWIFT’s global payments infrastructure may have been answered. Recent analysis from crypto researchers reveals that the token is not waiting for a direct partnership with SWIFT. Instead, Ripple’s technology is making inroads through a network of third-party fintech providers that already connect to SWIFT, offering […]
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Crypto pundit Chain Cartel has raised several key points following SWIFT’s latest comment on its move to adopt blockchain technology. The pundit claimed that Ripple’s XRPL network best suits what SWIFT is trying to achieve and suggested that the two firms collaborate. Pundit Points To Ripple’s XRPL After SWIFT’s Announcement In an X post, Chain […]
Long before blockchain, inter-bank communication platform Swift was working to modernize the way financial institutions do business. First published in 2004, Swift’s global standard ISO 20022 was collaboratively created by a consortium of six standards bodies also including the International Securities Association for Institutional Trade Communication and the Fix Protocol. The open standard is being designed so that when it is implemented in the coming years it will help members more accurately and efficiently communicate with each other, regardless of network or any number of advances in....
Ethereum co-founder and ConsenSys chief Joseph Lubin appeared on Bloomberg Crypto on October 7 and confirmed that ConsenSys is building the prototype for SWIFT’s new blockchain-based shared ledger—an initiative that, according to SWIFT’s own announcement last week at Sibos in Frankfurt, will bolt a permissioned, always-on ledger into the global messaging cooperative’s infrastructure and natively […]
SWIFT’s decision to test a blockchain prototype with Consensys (Ethereum) has stirred debate in the crypto space, raising concerns about whether XRP’s role in global finance may be under threat. While Ethereum may offer experimentation, a crypto analyst argues that the XRP Ledger (XRPL) already delivers enterprise-grade performance, compliance features, and real-world adoption that institutions […]
An unnamed Ukrainian bank has lost over $10 million after hackers broke into the systems and stole the money. The banks now have an urgent need for blockchain based fund transfer solutions, as the conventional systems are being frequently compromised. The SWIFT network, which is widely used by the banks across the world for electronic fund transfers has been affected by multiple hacking attacks till date, resulting in huge loss of funds. After the recent hacking incident where hackers stole money belonging to the Central Bank of Bangladesh from US Federal Reserve, a Ukrainian bank has....