“The San Francisco-based company, also in attendance at Sibos, has been making waves in the banking industry on the strength of RippleNet, its cross-border payments platform that has signed on more than 100 financial institutions. Ripple takes aim at SWIFT by offering a suite of blockchain-based software APIs that can reduce fees and transaction speeds, and offer more transparency in a frictionless environment.”Despite all the rumours running through the ether, a spokesperson for SWIFT said that there is absolutely no truth in them. In a new interview with Finance Magnates, the spokesperson stated:
“I’m not sure where those rumours are coming from but the upcoming standards release … is entirely unrelated to RippleNet.
Its primary purpose is to ensure all payments include a tracking reference (UETR, Unique End-to-end Transaction Reference) which will allow banks to track their gpi payments end-to-end in real time.”What are your thoughts? Let us know what you think down below in the comments!