Could SWIFT Announce a Partnership with Ripple and XRP?
Ripple could soon shock the market once again. This time, the payment processor SWIFT could announce a partnership with Ripple in order to use Ripple’s service xRapid, which uses the third most valuable cryptocurrency in the market, XRP.
Between October 22nd and October 25th, SWIFT will be hosting an event in Sydney in which they could talk about this specific partnership. If the partnership is real, it could help Ripple and XRP expand all over the world.
At the moment, SWIFT is one of the most important companies handling an important number of cross-border transactions all over the world. Banks and financial institutions use its services in order to perform transactions.
The Sibos annual event is one of the most important conferences in the financial world. Organized by SWIFT it allows 8,000 executives from all over the world to have contact with leaders in the financial industry. However, this year will be particular since Ripple will be present at the event.
The conference is being promoted with the tag ‘Enabling the digital economy’ and could be related to Ripple’s products being deployed even further in the crypto space.
Although SWIFT is the most important participant in the remittance and cross-border transaction market, Ripple and XRP have been growing due to their efficiency and ease of use. There are more than 100 different entities working with Ripple and dozens more are currently analysing the possibility to use Ripple’s products.
Last year, Ripple was uninvited to the Sibos event, this is why the company decided to host its Swell event at the same time and place as SWIFT did with Sibos.
Of course, these are rumours that have spread on the internet and on different forums such as Reddit. However, if SWIFT announces that it wants to start using XRP or Ripple’s technology, XRP’s price could experience an important move up and reach levels not seen in the last months.