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XRP investor sentiment rallies as Ripple quashes SWIFT partnership rumors at SIBOS

Anirudh VK

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XRP investor sentiment rallies as Ripple quashes SWIFT partnership rumours at SIBOS
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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.”





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Anirudh VK is a full-time journalist at AMBCrypto. He has a passion for writing and interest towards the future of blockchain technology and cryptocurrencies. He does not own any cryptocurrencies currently.

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

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Tether’s [USDT] market capitalization hits all-time high, Facebook in talks with Winklevoss twins, trading firms over new cryptocurrency and more

Daily Crypto News – May 25

1) Bitcoin Wallet receives part of 5,000 BTC: A recent Whale Alert highlighted a transaction on May 24, where a large sum of Bitcoin [BTC] exchanged hands between two anonymous wallets. According to the alert the transaction took place at 22:13:23 + 1 minutes and 5,000.00001092 BTC was transferred from an unknown wallet, with address 19SiCYaYKZh9A8HUjuh14eg5wtYzKxiFbB, to another unknown wallet with address 14GcjGjxwadzcpmq9EG3KUgTKATjurbnWt.

Read more at https://bit.ly/2VRQwb0

2) Bitwise Report 2.0: Bitcoin [BTC] futures continues growth: On a month-on-month basis, Bitcoin Futures saw a massive bump in April trading at an average of 10,000 contracts daily, peaking on April 4, with over 22,000 contracts traded. To put that number in perspective, in March 2019, the average contracts traded was less than 4,000. Despite the high standards set in April, the average daily contracts traded in May, with 25 days gone has exceeded 14,000 and still looks to grow, given the price performance of Bitcoin.

Read more at https://bit.ly/2W40sTR

3) Craig Wright on private keys: Craig S Wright has, for years, claimed he is the true creator of Bitcoin [BTC] without providing a shred of evidence to support the same. With the crypto-community levelling, Wright could prove his worth by sending BTC from Satoshi Nakamoto’s touted wallet containing around 980,000 BTCs, the BSV man in a twisted cause and effect situation, stated he will “sign” into his wallet only when he proves he is the creator.

Read more at https://bit.ly/2X6fdlw

4) Tether’s [USDT] market cap hits ATH: Tether and Bitfinex are being closely scrutinized now more than ever due to the NYAG’s lawsuit; however, the scrutiny doesn’t seem to have affected Tether as the market cap of USDT has increased by over $100 million in approximately 70 days.

Read more at https://bit.ly/2McaTjE

5) Tether volume shift: Another controversial topic in the cryptocurrency industry was the issue of fake transaction volumes on many of the popular cryptocurrency exchanges. The magnitude of the topic was so large that even Changpeng Zhao, the Chief Executive Officer [CEO] of Binance had raised red flags. This topic and Tether as a whole received another twist when Larry Cermack, the Director of Research at The Block, pointed out a few parameters when it came to the said volume.

Read more at https://bit.ly/2wmk4mJ

6) Bitfinex’s LEO tokens listed on Delta Exchange: Bitfinex’s Leo tokens faced quite a lot of criticism when they were announced, due to the missing $850 million funds from Bitfinex. The private investment round by Bitfinex also faced a lot of heat from the media. However, in a recent development, Leo tokens are being listed on various exchanges for trading.

Read more at https://bit.ly/2HUEnNB



7) Robinhood en-route a projected valuation of $7 billion: Robinhood, the California-based cryptocurrency exchange made headlines recently when a source close to the organization revealed that it was on the verge of closing their latest round of funding at a valuation of a whopping $7 billion – $8 billion. Sources even claimed that the current round of funding could act as a precursor to an even bigger round of funding, which would pit Robinhood with the bigwigs like Coinbase and Binance.

Read more at https://bit.ly/2W64KKj





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