Rumour That SWIFT May Announce Partnership With Ripple Thickens

There is a very high expectation that Ripple, the US-based payment company, may make shocking announcement at the coming SWIFT Sibos 2018 in Sydney between 22 – 25 October. This is making Ripple enthusiasts to be peddling rumours that SWIFT may announce a strategic partnership with Ripple’s xRapid.

Beyond that, Ripple community hopes that the participation of the fintech company in this year’s Sibos will glue Ripple with more partners across the globe. The reason is simple, SWIFT is one major company that many banks rely on talking about cross-border remitting.

Rumour That SWIFT May Announce Partnership With Ripple (XRP) Thickens Rumour That SWIFT May Announce Partnership With Ripple (XRP) Thickens

Sibos is an annual event, it is regarded as the world’s most sought after conference on financial services. The conference, which is organised by SWIFT connects over 8,000 executives, decision makers and thought leaders from across the financial industry.

With this year’s conference tagged “Enabling the digital economy,” the presence of Ripple in the event will open people to the importance of blockchain technology, and the fact that cryptocurrency is importance in seamless cross-border remittance.

Ripple (XRP) Tool May Unseat SWIFT

While SWIFT dominates international money transfer, Ripple has created state of the art cross-border payment tools that may send customers away from SWIFT. Meanwhile, inviting Ripple to this year’s programme is a show of connection between the two firms.

Observers have inferred that Ripple may have to topple the ecosystem of SWIFT with its chains of partners, blockchain technology, and its outstanding tools like xRapid, which is wholly dependent on XRP, a cryptocurrency managed by Ripple.

According to a Redditor, at the Sibos last event, Ripple was uninvited.

“SWIFT uninvited Ripple last year, and that’s how Ripple ended up putting on SWELL at the same time and place. SWIFT seems to have learned from their mistake, thus Ripple has a vendor slot.

A Look at SWIFT’s Possible Announcement About Ripple (XRP)

Different analysts have also pointed that if SWIFT announce in the coming event that it is going to be using any Ripple tool, the price of XRP may skyrocket to $1 or beyond. When SWIFT fully begins the use of Ripple tool, their payment protocol will be frictionless.

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Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.

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About the author

Olayode Yusuff

Olayode has made meaningful contributions to Huffington Post, Thrive Global, Oracle Times, The Independent Republic, Forbes, Washinghton Post and a host of other news magazine.

He’s a blockchain enthusiast covering news on notable cryptocurrencies and seminars from far and within.


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