The SWIFT interbank payment network announced that it is not, in fact, being taken over by Ripple, nor is it partnering with xRapid, reports Finance Magnates. An earlier rumor held that an update in the SWIFT network would make Ripple’s transfer products available to thousands of banking customers.

The SWIFT interbank payment system has been criticized by the crypto community for its slowness and cumbersome procedure. For this reason, SWIFT is planning the GPI, or Global Payments Innovation upgrade. It was precisely in connection with this upgrade that the Ripple community suggested the innovation may include integrating some of the interbank payment…

This article appeared first on Cryptovest

Like this: Like Loading...