Earlier this month, Ripple announced that they would be attending the Society for Worldwide Interbank Financial Telecommunication’s annual conference known as Sibos this year. This led many to believe that a potential partnership was on the horizon, considering that Swift is Ripple’s biggest competitor in the market it is targeting.
The attitude of Ripple towards SWIFT has been demonstrated many times in the past, with multiple executives making it clear that they wish to take over the incumbents and not partner with them. This has not deterred the XRP Community on Twitter, many of who continue to believe that a partnership is coming between the two.
However, Marcus Treacher, the Global Head of Strategic Accounts at Ripple, said in a tweet from the conference:
“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 in reference to Ripple’s network of banks known as RippleNet reaching across 40 countries. They aim to create a seamless network for payments around the world known as the 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 sentiment of the XRP community reigned strong after such statements from an executive at the firm, with user Jlynn4u stating:
“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, stated:
“Years away”? Which means that XRP is THE vehicle for instant cross border payments at the moment, right”
User omegatrader stated:
“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, put an end to partnership speculation, by stating:
“Obviously no “partnership” in the works. The plan now appears to be Ripple simply kicking Swift’s ass.”
Subscribe to AMBCrypto’s Newsletter
Stellar Lumens [XLM/USD] Technical Analysis: Bulls rest while bears plan siege
XRP/USD Technical Analysis: Market confused amidst a reddish hue
Cardano [ADA/USD] Technical Analysis: Bear is still king of the market
Bitcoin [BTC] rewards start-up raises $2.25 million; Bain Venture Capital one among the investors
Bitcoin [BTC/USD] Technical Analysis: Knife drop urges bears to take power, bulls might see bounce-back
XRP powered-xRapid and Ripple to get push for adoption through upcoming SWIFT GPI upgrade and Temenos?
XRP, Bitcoin [BTC], Ethereum [ETH] and Litecoin [LTC] bull run last year started in November: The outlook 1 year down the line
Ripple partner reveals platform moves “a couple billion”, hints at usage of XRP-powered xRapid in future
Bitcoin ETF fate to be decided by the SEC after November 5
“Bitcoin [BTC] will be made better than every other cryptocurrency”, says nChain’s Craig Wright
Ripple’s new xCurrent 4.0 with over 150 customers promises “increased product interoperability” with XRP-powered xRapid
IMF Official to Ripple Co-founder – IMF involved in research, publication on crypto-assets and blockchain
XRP breaks out above 4% within the span of an hour; new APIs enabled
XRP is “explicitly legalized and endorsed” in Thailand, reveals Ripple’s Garlinghouse