Ripple is aiming overtake swift banking network

Ripple Labs Inc., the blockchain startup whose digital money is often used as a proxy for other cryptocurrency payments, is gaining new customers because financial firms are seeking faster, more up-to-date technology than the Swift banking network, Chief Executive Officer Brad Garlinghouse said.

The Swift, an acronym for the Society for Worldwide Interbank Financial Telecommunication, and IBAN (International Bank Account Number) systems have long been used by banks, individuals and businesses to send and receive money. Ripple was in the headlines in September when XRP, its cryptocurrency commonly referred to as Ripple, rallied briefly.

Blockchain technology can eliminate the need for a central standardized system because it works as a public ledger, enabling the digital transfer of money without the need to route it through accounts at banks and financial institutions. While Ripple, Bitcoin and other cryptocurrencies have gained in popularity, they have yet to unseat the standards embraced by the financial industry for wire transfers.
Posted On: Nov 14, 2018

  Supporting Women entrepreneurship through Direct Selling!!!
  Nasscom opposed banning Crypto in India
  Amway launches new Attitude Colors range products!!!
  Facebook crypto Libra get support from Uber,Paypal,Visa..
  Facebook softens policy on crypto and blockchain ads!!!
  Zebpay integrates Bitcoin lightning payments
  Amazon told not to sell Modicare products !!!
  Samsung S10 includes crypto key storage!!!
  India to Draft Cryptocurrency Regulations in December
  IDSA welcomes Tamilnadu's Direct Selling guidelines!!!
Prev   Next