XRPL Labs Founder, Wietse Wind Tip-offs About Banking License, Essential for XRPL Bank Accounts?

In a tweet made out Friday, July 5, by Eric Dadoun, it was tipped off that the founder of XRPL, Wietse Wind is working towards getting a banking license, to which he responded,

Now you're mentioning building… Doing plenty of that with @ThisIsTRISS @baltazar223 😎 pic.twitter.com/3iYZRRH813

— Wietse Wind { 𝚡𝚛𝚙𝚕𝙳𝚎𝚟: 𝚝𝚛𝚞𝚎 } (@WietseWind) July 5, 2019

Said hint was induced by a conversation that initially took place between Dadoun and another Twitter user, autotweetafk. It seems like the latter was not happy with the SEPA system, also referred to as the Single Euro Payments Area, which has existed since 2008.

The concern autotweetafk has expressed in terms of SEPA is the fact that buying takes as long as days and was hopeful that Ripple can be integrated so that transactions can be completed within minutes, as opposed to hours and days. This is what led autotweetafk to tweet out;

“Wietse needs to get a banking license so we can get a proper XRP-derived bank.”

This seems to have come across to Wind, who since tweeted out:

“Working on that :D Got [an] interesting meeting new week (cool emoji) Really looking forward to it!”

Crypto news platform, AMB Crypto also expounded on this Twitter conversation and shared Wind’s goals moving forward. Apparently, they include working towards ways to smoothen transfers’ processes and ensuring they are done in an effective and instant manner.

It turns out that Wind is, in fact, working towards establishing a bank that enables users to send and receive euros on the XRP Ledger, ILP, as well as the SEPA network, and this banking license will make this a reality. He was even referenced by AMB Crypto saying,

“If we have licenses to issue (XRPL-bridged) bank accounts to our users (cool emoji) – That’s what we’re after.”