Competitor ripple swift He announced his plans regarding the adoption of the ISO 20022 standard and integrating blockchain technology with its activities. In addition, the company suggested that there are no plans to introduce a token that could compete with XRP.
Swift will present plans in the race with Ripple and XRP
IN X PostCryptographic commentator, John Squire, released a film in which SWIFT Executive emphasized how the company would accept ISO 20022 data format for payment services. She noticed that banks would open this possibilities of offering products and services added to their clients. This happens when the company is in the face of increased competition from Ripple, which uses XRP as a bridge currency for payment services.
In addition, Swift Executive He took out that the biggest opportunity for the industry in relation to the modern platform is the potential of integration with several networks, rails and third parties. She explained that the modern platform uses the ISO 20022 format and transactional orchestration to manage this interoperability. Based on its statement, Swift will be able to integrate with any cryptographic network using one central structure.
This means that Swift is not planning to establish or accept a specific network, how Ripple uses Book XRP (XRPL) and his native XRP token. Squire stated that the company performs this move to avoid competing with networks such as XRPL, which are already established in the cryptographic space.
Meanwhile, the market commentator added that the future is interoperability, not a monopoly, which suggests that all networks will have a role to play in global payments. However, this may affect the XRP forecasts that achieve ambitious price goals because most transactions will be settled at XRPL at some point Ripple payment solution.
Ripple is also working on interoperability
It is worth mentioning that Ripple is also working on interoperability for its payment network, which wants to overtake Swift. Waliator XRPL The vet pointed out earlier the fact that the latest takeover of ripple, Stablecoin Platform RailSupports SEPA, Fedwire, Ah and Swift Payment Rails.
In addition, the Stablecoin platform also supports four layer networks: Bitcoin, Ethereum, Throne and Solana. He noticed that the Book of XRP would soon join the last one and that the XRP/USD couple can employ the support payday handrail.
Meanwhile, as part of the pursuit of interoperability, Rlusd Stablecoin Ripple It is also available on the Ethereum network with XRPL. There are also plans to integrate it with the Cardano network. It is worth mentioning that Stablecoin also plays a key role in Ripple payment solutions.
At the time of writing this text, the price of XRP is around USD 3.04, in the last 24 hours, according to data with coinmarketcap.
A distinguished picture from Adobe, chart from TradingView.com
Editorial process For a bitcoinist, she focuses on providing thoroughly examined, exact and impartial content. We maintain strict acquisition standards, and each page undergoes a careful review of our team of the best technological experts and experienced editors. This process ensures the integrity, importance and value of our content for our readers.
