Finally, the news has come out, SWIFT the banking giant is testing Ripple for settlement. The article doesn’t say what product SWIFT is testing but if its for settlement we know that XRP is involved. We also know that with the latest Ripple website update, the 3 core products:
have been removed from the site and now Ripple offers ODL or on-demand liquidity. This news was found this morning by crypto Eri on her youtube page which you need to make sure you subscribe and follow along. Another interesting fact is that one of the topics to be discussed at this year’s SWELL event is that liquidity is different now. A lot to take in and a lot to think about.
The Arab Times Online broke this information and the full article is here: http://www.arabtimesonline.com/wp-content/uploads/pdf/2019/oct/02/20.pdf
Swift, the bank-owned messaging
system used for the settlement of international payments, has been testing Ripple to settle payments and has so far been
pleased with its speed and lower cost.
However, it said that the technology is
not yet ready for mainstream usexiii.
Switzerland’s UBS Bank has developed
its own utility settlement coin, which
aims to create a digital currency for use
in fi nancial markets by issuing tokens
convertible into cash on deposit at central banks.
According to the article, SWIFT is pleased with Ripple’s speed and lower cost so far. They have also stated that the tech is not ready for the mainstream. Only Ripple knows the answer to that.
At the end of the day, this is exactly what us XRP holders want to hear. SWIFT is the holy grail. If anything was to send the price of XRP spiraling into outer space it would be a SWIFT partnership.