Ripple is missing in ambitions. Company Wave has already managed to accept their payment network Ripplenet numerous financial institutions, But he doesn’t intend to stop there. Ripple is now focused on replace network QuickThis is currently the standard for international transfers between banks. For this purpose, of course, the ripple counts on its network ripplene, but also for home cryptocurrency: The XRP.
- Ripple nourished the extraordinary ambition to replace the Swift Network with Ripplenet and its cryptocurrency XRP.
- Ripplenet has already received more than 300 financial institutions, which is a significant progress towards the target goal of a quick customer base.
Ripple wants to replace swift for rippletet and xRP
Network Quick (Society for global interbank financial telecommunications) is an international cooperative that provides a safe service service for financial transactions between banks. Used more than 11,000 financial institutions over 200 countries.
But Swift also has its disadvantages: it is slow,, Nice AND centralized. Transfers can take For several dayscosts Dozens of dollars in costs and subject to restrictions or sanctions politicians.
This is where Ripple sees the opportunity. American company offers an alternative to Swift with its network Ripplenetwhich allows almost gears immediate,, low costAND intermediary. Rippletet uses XRP as Currency To facilitate exchanges between different currencies.
RippleT already received more than 300 financial institutions, soon 14% swift
Ripple claims that its RippleTet network already uses more than 300 financial institutions over 40 countries. Among them are giants like Santander, American Express, Moneygram or Standard Chartered.
Of course, XRP issuing a company is hoping to convince even more banks to accept their network and why it will not replace Swift in the longer term. According to Ripple CEO, Brad Garlinghousewho recently commented on this topic on APEX 2025 events: Ripplenet could exceed 1,540 financial institutions within a few years.
Ripple boss actually estimated this within 5 yearscould have achieved ” 14% »Financial institutions currently using Swift:
“Swift today consists of two parts: sending messages and liquidity. (…) Liquidity belongs to banks. I am less interested in sending messages than liquidity. If you control all liquidity, it’s good for XRP (…), I would say 14 % (SWIFT). »» »» »» »» »» »» »» »» »» »» »» »»
Brad Garlinghouse, Ripple CEO
Ripple therefore wants a revolution in the international payment sector its network Rippleten and cryptocurrency XRP. And on the side of technological development, Brad Garlinghouse is not even overcome. Ripple recently announced Sidechain compatible withEthereum virtual machine (EVM) Complete the ecosystem of the XRP book.
(Tagstotranslate) Banks (T) Ripple (XRP)
