ADVERTISEMENT
NewsLogical
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • Finance
  • XRP News
  • Price Analysis
  • Coin Guide
  • About Us
    • Contact Us
    • Team
    • Privacy Policy
    • Editorial Policy
    • Write for Us
No Result
View All Result
NewsLogical
No Result
View All Result
Home Altcoins

Ripple (XRP) Eyes SWIFT Gpi With Support From 60 World’s Largest Banks And 160+ Financial Institutions

by Khalid Lawal
February 7, 2019
in Altcoins, Cryptocurrency
0
Ripple
0
SHARES
939
VIEWS
Share on FacebookShare on Twitter

The managing director of Ripple (XRP) in South Asia and MENA, Navin Gupta, has stated that there has been noteworthy shift of interest from high street banking to networking whereby transactions hold new experience.

Gupta said this has significantly helped companies like Ripple who bring new solutions into the finance industry. Ripple has so far been able to attract over 200 financial institution customers to itself amongst which the likes of Euro EximBank and Ali Bank in Kuwait who joined lately exist.

Gupta noted that even though Ripple (XRP) is present in all large remittance corridors across the world, it is far incomparable to the number of banks SWIFT gpi currently possess. SWIFT gpi has been able to make outstanding achievements since its launch in 2017, garnering supports from 300+ financial institutions amongst which 60 of the world’s leading banks exist.

Nevertheless, Ripple is making gradual conquest in the industry and the wave of the blockchain technology is being felt in the industry as Financial institutions are embracing it progressively. While the Middle East serves as Ripple’s fastest growing market region with alliance from 9+ large banks in UAE, Kuwait, Oman, Saudi Arabia and Bahrain, top commercial banks in Korea, Japan, India and ASEAN have also signed with the blockchain firm.

The like of Al Ahli Bank of Kuwait and BFC Bahrain including international players like France’s Credit Agricole, Banco Santander, American Express, and Japan’s SBI Holdings, amongst others have also joined Ripple to deploy its blockchain technology.

Ripple has also been able to address a key demand from banks – interoperability and scalability with the introduction of InterLedger Protocol (ILP).

“It is 100% interoperable with all other platforms. Last year we showed a live example in Berlin where we had seven different blockchains and we were able to take transactions across seven different ecosystems such as trade, logistics and energy,” Gupta said.

With xRapid and xCurrent, which make use of XRP digital assets for transactions, Ripple (XRP) is providing an unmatched solution in the remittance industry.

The managing director added that Ripple is addressing the issue of decline in correspondent banking network witnessed by local banks in Asia/ME by expanding its hub model to South Asia. The blockchain firm began the address by partnering Siam Commercial Bank in Thailand as its regional clearing partner.

However, Gupta stressed that while Ripple (XRP) is undergoing great successes in scaling its network across the world particularly in Asia Pacific and the Middle East, proving to a large number of banks that its solution has an edge over SWIFT gpi remains a necessity.

Tags: banks adopting rippleBerkeley University RIpple XRPRipple (XRP) and AmazonRipple (XRP) and SWIFTRipple (XRP) AsiaRipple SWIFT
No Result
View All Result

Highlights

Elon Musk Loaded Up In Dogecoin before Pumping Bitcoin – Peter Schiff

Crypto Investor Explains Why Cardano will Soon Topple Ethereum

Cardano’s IOHK Rebrands, Enters Final Stages of a Large Government Contract

Analyst Explains why Bitcoin Price Could Crash to $6,400

Online Search for “Dogecoin” Surpasses “Bitcoin” in United States

PayPal Q4 Earnings Report Shows Users More Active after Buying Cryptocurrencies


NewsLogical Inc. is a U.S.-centric firm established in 2019 with the aim of providing resourceful and up-to-date cryptocurrency and blockchain information.

Email: info@newslogical.com

Read More.

Dislciamer


Contents on NewsLogical.com are only for informational purposes and should not be construed as financial or investment advice.

Trading cryptocurrency is considered a high-risk activity that requires technical knowhow because digital currencies are generally volatile.

Contact financial experts for guidance before making any cryptocurrency investment decision.

Read More.

About us

  • About
  • Contact Us
  • Disclaimer
  • Editorial Policy
  • Privacy Policy
  • Team
  • Write for Us
No Result
View All Result
  • Home
  • General News
  • Bitcoin
  • Blockchain
  • Business
  • XRP News
  • Price Analysis
  • Coin Guide
  • About
    • Team
    • Editorial Policy
    • Privacy Policy
    • Write for Us