SmartStream is a global software and managed services provider that in challenging markets conditions has outpaced its rivals in the financial markets sector, creating an impressive base of more than 1,500 customers.
In 2017, Smartstream did a Proof of Concept with Ripple. SmartStream integrated its liquidity management solution to take the payment off the block – and updated its solution with a transactional balance and validate the position on the block itself.
SmartStream president has stated that they are working with a “major provider” to allow cross-border trades. SWIFT takes hours or even days, while this new system takes 3-4 seconds and is guaranteed. Smartstream did a POC with Ripple in 2017 see below.
Darryl Twiggs, SVP Strategic Initiatives at financial transaction lifecycle management solutions provider SmartStream stated:
SmartStream is looking to launch its offerings next year. For Twiggs this is most definitely the right time.
Twiggs also commented:
“We are over the hype that was generated by cryptocurrency. All the central banks have made a statement, in terms of regulatory jurisdictions, and have also produced reports in the last six months, in how they view blockchain as an operating network. They are in favour of it.”
We have followed up with the team at Smartstream asking if there has been any progress or updates on enabling Ripplenet as this would be the year as stated by Twiggs last year.
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