“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro”
- Ripple and Swift’s Top bosses lock horns at Paris Fintech Forum
- Swift CEO announces a brand-new partnership with payments provider R3.
- The mix gets interesting as R3 too has joined hands with Ripple
The Future of Payment Mix: Ripple, Swift, and R3
Well, the crypto markets were lit up again thanks to the upward zoom by XRP. In a single hour of trading yesterday, XRP managed to erase an entire week’s worth of losses. The pop of roughly 10% in Ripple’s token seems to have buoyed the entire crypto market and sentiment is once again optimistic… for now.
While the XRP price jump was exciting, the story that led to this jump was even more fascinating. At the Paris Fintech Forum yesterday, what was supposed to be a hot debate between Ripple and SWIFT turned out to be something much more. While sharing the stage with Ripple Labs CEO Brad Garlinghouse, the CEO of SWIFT Gottfried Leibbrandt announced a brand new partnership with payments provider R3.
It’s kind of a triangle now as R3 had very recently entered into a partnership with Ripple Labs and SWIFT was found exactly duplicating Visa which made a monumental purchase of a payments company called Earthport, a long term partner of Ripple Labs. This “backdoor” or “indirect” partnership of traditional payment masters with Ripple also makes one think that the considered “battle” in the payments space may actually be more of a giant network under construction, which includes all the major players in the industry and implements cutting edge technology, with Ripple increasingly growing as part of this network.
This partnership announcement somehow fizzled out the excitement of the hot debate and what have seen on stage it seemed that the two men were just agreeing with each other than debating. But if things continue this way, in this battle between crypto/classical and crypto/crypto, we may very well end up seeing a mesh of networks that would connect all the players thus bringing value to the consumer through the power of technology.
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