Ripple and Its Rival SWIFT Now Work Together Indirectly as RippleNet Keeps Expanding

Digital banking giant Ibis Management Associated has brought together two big rivals—Ripple and Swift—on their new platform for customers’ benefit

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The Caribbean giant in the digital banking and payments processing sphere, Ibis Management Associates, has announced that Ripple and Swift solutions are going to be combined on its new platform, SWISSRoute RippleNet Adapter, to allow customers to take advantage of both.

Two rivals brought together by Ibis Management Associated

Ibis Management Associated has created the new platform in cooperation with Ripple’s U.K.-based partner Finastra.

SWISSRoute RippleNet Adapter connects modern banks with each other via a single highly secured channel. It is based on SWIFT but also includes RippleNet.

The creators of SWISSRoute believe that a combination of both technologies will provide their clients with the best options and much richer opportunities for banking than if either RippleNet or SWIFT would be used separately.

Image via ibis-management

SWIFT approves of Ripple’s tech but says "no"

Previously, media reported that the SWIFT behemoth considered integration with Ripple and appreciated the high speed and low cost of customers’ transfers in Ripple’s products.

However, SWIFT still said "no" to an integration or a collaboration with Ripple.

Ripple blockchain giant offers faster solutions for transferring money across the globe without pre-fundingthe method that many banks usethus making those remittances and other transactions cheaper for customers.

👉 MUST READ Ripple Director For South America Indicates RippleNet Priorities, Dismisses Concerns About XRPrelated article image

XRP price hits $0.30

Now that Bitcoin is rallying and after its price action has reached the $11,821 mark, altcoins are following suit.

The third largest cryptocurrency, XRP, has managed to reach the $0.30 levelthe nearest price milestone that many have been looking forward to for a long while.

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Yuri Molchan

Yuri entered the crypto sphere at the BTC price peak in 2017, quickly turning into a crypto enthusiast. He has written for several media, covering everything from TA to ICOs and crypto regulations. Presently is a news writer, working with crypto and blockchain-related topics.