Earlier this month, Ripple announced that it would attend the annual inter-bank financial telecommunications conference organized by the World Development Society, known this year as Sibos. This led to the hypothesis that a potential association was in sight, with Swift being Ripple’s main competitor in the target market.
Ripple’s attitude towards SWIFT has been demonstrated time and time again in the past, with several leaders clearly indicating that they would like to return to the roles of the incumbents and not work with them. This has not stopped the XRP community on Twitter, many of whom continue to believe that an association is created between them.
Marcus Treacher, global head of strategic accounts at Ripple, said in a conference tweet:
“Swift at sibos today: “The benefits of DLT are promising, but delivering it is still years away.” There are over 100 financial institutions with access to instant payments across 40 countries and 6 continents who would say otherwise.”
This is Ripple’s network of banks, called RippleNet, which covers more than 40 countries. Its objective is to create a perfect network for payments worldwide, called Internet of Value.
Treacher also said in another tweet:
“New McKinsey Global Payments Map suggests leading banks are moving away from POCs and using blockchain at scale. @Ripple’s #blockchain allows for faster time to market and better global payment services.”
The mood of the XRP community was strong after such statements by an executive of the company, the user Jlynn4u said:
“I hope the Ripple team will make it known that the technology SWiFT says will take years already exists and works with Ripple. I hope u guys get the chance for a rebuttal.”
Pieter Swanepoel, a Twitter user, explained:
“Years away”? Which means that XRP is THE vehicle for instant cross border payments at the moment, right”
The Twitter user, omegatrader said:
“I guess what he is saying is swift likes the DLT but it will take a long time to reach the use of that technology which I call BS! Lol.”
CryptoPenny, a Twitter user, ended the speculation about the partnership with the following words:
“Obviously no “partnership” in the works. The plan now appears to be Ripple simply kicking Swift’s ass.”
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