Category: Swift

Ripple–SWIFT Direct Partnership Slim, MD Points at Hard Numbers

Posted on by Dalmas Ngetich

Ripple price recover
SWIFT is dominant, moves $300 billion a day
Participation levels low, likely to rise as XRP prices edge higher.

SWIFT partnership with Ripple in an arrangement that incorporates xRapid will cause XRP prices to explode. All the same, SWIFT is confident that they are dominant and are not willing to join forces citing numbers. Meanwhile, Ripple (XRP) prices are edging higher and could close above 34 cents in days ahead.
Ripple Price Analysis
Fundamentals
In a proof of concept, SWIFT did link their GPI Link with R3’s Corda Settler—owned in part by SBI Group, the chief agitator for Ripple and XRP. It was understandable that many Ripple supporters were excited that SWIFT was finally ready to fuse with the XRP Ledger and even use XRP for their cross-border service.
No doubt, benefits will flow in thick and fast if they do especially now that Ripple through xRapid has proven that their solutions are superior, cost-cutting and above all fast. It‘s a feature that we get in all DLT projects and something that SWIFT’s Lisa O’Connor, the MD, is not worried about as “numbers speak for themselves.”
In an interview with the popular news churning CNBC’s Crypto Trader, the executive oozed confidence, conveying a subtle message that Ripple has a long way to go before being a primary challenger for the dominant network.
“I would just say that I think the numbers speak for themselves, in that the old days of it taking several days to make a payment cross-border don’t exist anymore. And outside of that, Swift has something called GPI, the Global Payments Innovation. I would say the numbers speak for themselves in that $300 billion a day is done across the Swift network.”
Candlestick Arrangements

Like it has been with XRP in the last couple of weeks, prices are stagnant. Trading within a tight 4 cents range, the failure of bears to drive prices below 30 cents, our sell trigger and support line is bullish for the third most valuable coin.
Now that prices are in range mode, trading inside Jan 30 high low as participation levels drop, all we expect is a high-volume close above 34 cents. Not only will it catalyze participation but will trigger renewed in XRP as prices gain momentum as prices surge towards 40 cents.
On the other hand, any drop below 30 cents nullifies our Ripple (XRP) trade plan.
Technical Indicators
Volumes are thin, and despite increasing demand in lower time frames, we need proof of XRP demand. That means a satisfactory close above 34 cents complete with volumes exceeding 14 million and 61 million of Feb 24.
The post Ripple–SWIFT Direct Partnership Slim, MD Points at Hard Numbers appeared first on NewsBTC.
Source: New feedNewsBTC.com

SWIFT’s Managing Director: We don’t think DLT or blockchain is the answer to every problem

Posted on by Priya

Lisa O’Connor, the Managing Director of Asia Pacific at SWIFT, spoke about the company’s stance on Distributed Ledger Technology or blockchain technology, in an interview with Ran Neuner for CNBC Crypto Trader.
The Managing Director began the interview by briefly speaking about the core role of SWIFT. SWIFT, aka Society for Worldwide Interbank Financial Telecommunications, is one of the largest payment messaging networks around the world, enabling instant payments via a standardized system of codes.
O’Connor was asked whether the main role of SWIFT was bank-to-bank foreign exchange transfer. She stated that the organization was “much larger” than just bank-to-bank foreign exchange transfer, adding that it was, in fact, a corporation with over 11,000+ members globally. She further stated that these members were a collaboration of banks, brokers, asset managers, and corporates. She said,
“We’re owned by those members which is what makes this a cooperative by nature. we are also the registration authority for the way that financial institutions speak to each other called ISO. so ISO is the standard.”
This was followed by the Managing Director speaking about SWIFT using blockchain or Digital Ledger Technology [DLT]. She stated that SWIFT is “selectively looking at the use” of DLT.
The managing director went on to say,
“So, they’re looking at how do they leverage DLT for certain business problems. We don’t think that DLT or blockchain is the answer to every problem, what we like to do first is look at the problem and then apply the right technology as the solution.”
O’Connor stated that the firm was looking into using DLT/ blockchain solutions for proxy voting in Singapore, which, according to her, “is a big industry challenge.” She further added that SWIFT worked with large market infrastructures such as the Australian Stock Exchange, which is using DLT solutions for their new clearing and settlement system. She added,
“[…] hat we would like to be in the future is a platform that helps to connect our members up to the best of these blockchain solutions. so we’re working with for example R3 who’s been doing a lot of work as it relates to trade finance and how do we link together that trade finance value chain to the payment value chain that underpins at all.”
The post SWIFT’s Managing Director: We don’t think DLT or blockchain is the answer to every problem appeared first on AMBCrypto.
Source: AMB Crypto

Mercury FX Makes History Completing First Commercial Payment with Ripple’s xRapid

Posted on by Daria Rud

CoinSpeaker

Mercury FX Makes History Completing First Commercial Payment with Ripple’s xRapid

Ripple’s xRapid allowed Mercury FX to complete the payment in a few seconds compared to 31 hours usually required. What is more, the fees saved made up $102.

Mercury FX Makes History Completing First Commercial Payment with Ripple’s xRapid

Continue reading at Coinspeaker
Source: CoinSpeaker

SWIFT’s GPI Counters Ripple’s Emergence in the Global Money Remittance Space

Posted on by Wanguba Muriuki

CoinSpeaker

SWIFT’s GPI Counters Ripple’s Emergence in the Global Money Remittance Space

SWIFT’s GPI riposte initiative reported growth from 15% to 56% representing a 270% year-on-year change enabling the company to shun its competitors and move at least $40trn in 2018.

SWIFT’s GPI Counters Ripple’s Emergence in the Global Money Remittance Space

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple’s xRapid Beats SWIFT as It’s Becoming Obsolete, Says Mercury FX CEO

Posted on by Bhushan Akolkar

CoinSpeaker

Ripple’s xRapid Beats SWIFT as It’s Becoming Obsolete, Says Mercury FX CEO

Besides faster and low-cost global transactions, the CEO praises the ease of use of Ripple’s of xRapid solution in making cross-border payments.

Ripple’s xRapid Beats SWIFT as It’s Becoming Obsolete, Says Mercury FX CEO

Continue reading at Coinspeaker
Source: CoinSpeaker

Here’s How Ripple’s XRP Could Hit $589 or Even $11,400 One Day

Posted on by Teuta Franjkovic

CoinSpeaker

Here’s How Ripple’s XRP Could Hit $589 or Even $11,400 One Day

Recently, the XRP Community was divided among the lines of those who believe in a theory and those who don’t. The theory in question is whether XRP will reach $589 in price before the end of the year or even $10,000 one day.

Here’s How Ripple’s XRP Could Hit $589 or Even $11,400 One Day

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

Posted on by Julia Sakovich

CoinSpeaker

Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

The head of Japanese SBI Holdings strongly believes that thanks to its use cases XRP will surpass Bitcoin in the nearest future.

Ripple’s XRP to Surpass Bitcoin by Market Cap, Believes SBI Holdings President

Continue reading at Coinspeaker
Source: CoinSpeaker

HSBC Whistleblower Falciani to Launch a Clean and Ethical Crypto Token for Regulators

Posted on by Bhushan Akolkar

CoinSpeaker

HSBC Whistleblower Falciani to Launch a Clean and Ethical Crypto Token for Regulators

The HSBC whistleblower wants to help regulators to fight illicit use of cryptocurrency through his anti-fraud crypto token called Tabu.

HSBC Whistleblower Falciani to Launch a Clean and Ethical Crypto Token for Regulators

Continue reading at Coinspeaker
Source: CoinSpeaker

Ripple CEO is open to Hire SWIFT’s Retiring CEO

Posted on by Tabassum

During a Paris FinTech Forum 2019, held on Jan 29 and 30, Ripple CEO, Brad Garlinghouse kept an open offer to Gottfried Leibbrandt who is stepping down in June from a rival, SWIFT, a payment network.
Since Gottfried is stepping aside as CEO from SWIFT after working decades, the moderator asked to share his experience and the legacy that will move forward. In response, Gottfried says that the GPI is a big part of the legacy which would transform the banking industry. While he just concluded his answer, Ripple’s CEO couldn’t take a minute to offer him a job’. Interestingly, Brad says;
Ripple is Hiring..!
Well, the faceoff between Brad and Gottfried has long been an interesting concern for many – especially for those who are connected with crypto and payment industry. Indeed it happened.  For the first time, both CEO marked their presence at a panel on Jan 30, 2019, in the Paris FinTech Forum.
Moderated by CNBC’s Elizabeth Schulze, the panel was quite appealing as both argued over the future of cross-border payments. Specifically, the panel was scheduled with the core topic about finance i.e Let’s Send the Money’.
She posted a few mesmerizing questions to SWIFT’s CEO such as; ‘why Swift is the future over Ripple?. How do you feel about the partnership with Ripple?, Why not use Ripple’s technology for the revolutions? If it was more regulation in the crypto industry, is XRP something SWIFT with more optimistic about? and other questions unlike.
What do you think about the classic move by Brad? Will Gottfried Join Ripple? Let us know your opinion.
The post Ripple CEO is open to Hire SWIFT’s Retiring CEO appeared first on Coingape.
Source: CoinGape

Expert Opinion: Ripple And Swift “indirectly” Partner Through R3

Posted on by Mati Greenspan

“This analysis is an adaptation from the work of Mati Greenspan, Senior Market Analyst at eToro”
Key Highlights:

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.
The post Expert Opinion: Ripple And Swift “indirectly” Partner Through R3 appeared first on Coingape.
Source: CoinGape

Ripple Price Analysis: SWIFT Unlikely To Use XRP Even After Corda Trial

Posted on by Dalmas Ngetich

Ripple price cool off after yesterday’s eruption
SWIFT using XRP unlikely even after Corda test phase
Bull momentum building up as transactional volumes increase

After impressive gains, candlestick arrangement supports XRP bulls. To that end we expect bull momentum to build up as uncertainty around SWIFT using XRP after Corda test phase mills.
Ripple Price Analysis
Fundamentals
A level deeper and the excitement around the newfound, indirect partnership between Ripple and SWIFT through R3’s Corda Settler will subside. After a technical review, it is apparent that SWIFT GPI Link is, in fact, a direct competitor or Ripple’s xCurrent with end-to-end tracking capabilities.
While SBI Holdings and Yoshitaka Kitao may be pulling string–SBI Group has investments in both companies, Corda Settler, it appears, will only act like any other “Layer 2” router. A layer that will facilitate cross border payment between these two networks. That is despite their supporting XRP. After all, it can support any other cryptocurrency—even XLM—”Settler will be open to all forms of crypto and traditional assets.” Nothing is exclusive.
The Proof of Concept is in progress, but at the end of the day, both companies will be advancing their solutions. Everything else constant, a scenario where SWIFT GPI Link and SWIFT in particular use XRP is highly unlikely.
Candlestick Arrangements

On the charts and XRP prices are cooling off. Despite double-digit gains of Jan 30, there has been no follow through, and prices are overly stable. All the same, we are bullish. Even if there are counter-arguments around XRP, SWIFT, and Corda, candlestick arrangement points to bulls.
Like before, we shall trade in line with our previous XRP/USD trade plans. That means, before we recommend longs, there must be a full close above 34 cents. That’s not all. Confirmations that trigger risk-off long traders must have the support of high trade volumes. These volumes should preferably exceed recent averages of around 17 million.
Only then shall we suggest buys on dips. First modest targets will be at 40 cents and later Dec 2018 highs at 60 cents. Before then, our optimism stems from the double bar bull-reversal pattern printing after yesterday’s upswings.
Technical Indicators
Although it would have been ideal for yesterday’s volumes to exceed those of Jan 10—83 million, there is a shift of momentum. After a clear high-volume bull bar—49 million versus 17 million averages, there is a propensity for traders to “jump in.”  However, patience is needed. Prices must first rally above 34 cents confirming yesterday’s bull bar preferably with transactional volumes exceeding Jan 28’s 31 million.
The post Ripple Price Analysis: SWIFT Unlikely To Use XRP Even After Corda Trial appeared first on NewsBTC.
Source: New feedNewsBTC.com

Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift”

Posted on by Anjali Tyagi

Speculations around Ripple-Swift partnership is rekindled as Swift announces its partnership with R3 for its Corda platform that uses XRP and Ripple CEO Brad Garlinghouse said, Ripple was open to “ways we could work with Swift.”
XRP Surges as Swift Announces partnership with R3
As the crypto market turned green, XRP shot off nearly 10 percent. The 2nd largest cryptocurrency has been trading at $0.3194 at the time of writing, as per Coinmarketcap data. In the BTC market as well, it is in the green by 8.14 percent. With a market cap of $13 billion, it is currently managing the daily trading volume of $653 million.

XRP 7-days price chart, Source: Coinmarketcap
XRP has taken off on the back of rumour mill centering around Swift and Ripple. Today, Swift, the arch-nemesis of Ripple announced a partnership with R3, an enterprise blockchain consortium. And the rumour mill has already started going.

According to the announcement, the global payments network, Swift that has 11000 members to its name has launched a proof of concept (PoC) connecting GIP with the R3 Corda platform to “trial a new gateway to interlink trade and e-commerce platforms. The result of this trial will be published in September.
“Following the recent launch of our Corda Settler, allowing for the payment of obligations raised on the Corda platform, it was a logical extension to plug into SWIFT gpi,” said David E. Rutter, CEO of R3
Speculations Rife
XRP supporters are extremely excited and that can be seen in the sudden spike of its prices. Now the speculations are rising yet again, providing XRP the opportunity to achieve adoption by Swift.
One such enthusiast commented, “We’ve known this for awhile and yet people seem to still think that Swift and XRP have no connections whatsoever when that’s obviously not true at all. Looks like a lot of people are finally seeing what we have been saying for a long time now.”
And another one, “BOOM!!!!!! R3 and Swift! Perhaps XRP integration through Corda!”
However, this time there’s is a good reason for XRP community to speculate as not only R3 uses XRP with the Corda platform but today, at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt, who will be stepping down in June, talked about XRP.
“I think that the big part of Ripple’s value proposition is the cryptocurrency XRP. There we do find the banks are hesitant to convert things into a cryptocurrency right now because of the volatility in the currencies” said Leibbrandt.
Also, the presence of Ripple CEO Brad Garlinghouse on the panel that according to CNBC, said that Ripple was open to “ways we could work with Swift,” further fuels the fire.
The post Ripple-Swift Rumour Gets Rekindled as Ripple CEO Says, Open to “work with Swift” appeared first on Coingape.
Source: CoinGape

Ripple, Hold On! SWIFT Announces Integration with R3

Posted on by Wanguba Muriuki

CoinSpeaker

Ripple, Hold On! SWIFT Announces Integration with R3

R3 is taking the global financial network by storm. Recently, the blockchain enterprise took SWIFT away from the hold of Ripple and is threatening Ripple’s own existence.

Ripple, Hold On! SWIFT Announces Integration with R3

Continue reading at Coinspeaker
Source: CoinSpeaker

Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals?

Posted on by Achal

Earlier today at the Paris Fintech Forum, Swift CEO, Gottfried Leibbrandt announced integration with R3. He said,
“we are announcing later today a Proof-of-Concept with R3 blockchain on trade, where you can initiate a payment on the trading platform, and then it goes into GPI. So we’re exploring interconnectivity with a lot of things.”
Swift is an 11,000-member global payments network that has established a global empire for cross-border payments. XPR gained 11.15% with a flash price rise from 0.288 to 0.319. RippleLabs and R3 have for long coveted a partnership or rather take-over of payment channel from Swift using the DLT platform.
The integration is nevertheless excellent news for XRP HODLers. Brad Garlinghouse, the chief executive of Ripple, a fierce competitor to R3 was also attending the conference who noted that
“I hear people talk about volatility and I feel like they’re propagating this misinformation,” he said. “Mathematically, there’s less volatility risk in an XRP transaction than there is in a fiat transaction.”
30-minute XRP/USD chart on Bittrex
Price Analysis of the Sudden Rise
The charts reveal that there was a ‘fundamental’ push in the price. The gap along with Volume rise signifies sudden market action because of positive news. However, a look at the RSI index – 75 in the same graph, the charts suggest oversold conditions. The 1-D chart indicates that if the price breaks the $0.34 resistance, then an upside towards $0.40 is on the cards.
Volume Rise Momentary Or Trend Reversal next? 
The massive global XRP community HODLing their XRP’s are long awaiting an XRP bull run to $5. The partnership currently involves only a small group of Swift partners in the Swift GPI upgrade team. Swift with a small test group, Swift GPI, has rolled out new series of protocols since the last year to compete with the growing DLT platforms and specially Ripple and R3.
R3 with its DLT platform, Corda; will provide service to the member banks and institutions of the Swift GPI team in a series of tests for integration and full-scale adoption. The number of banks in the Swift GPI program is only 165 when compared to the 11000 total membership.
Ripple’s XPR is confirmed to be used as the primary settler of transactions on Corda; however, the amount of XRP or the associated volume is clear as of yet. The test network would be used to create comprehensive results after real-world application. The surge in volume earlier during the day, hence, might be attributed to weak or over-hyped fundamentals.
The post Swift chooses R3 over Ripple and XRP Flash Rise Based on Hyped Fundamentals? appeared first on Coingape.
Source: CoinGape

Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial

Posted on by Dalmas Ngetich

Ripple price surge 10 percent
SWIFT GPI Link proof of concept with R3’s Corda
Transactional volumes picking up, spikes above averages

SBI Holdings may be behind an audacious plan of integrating SWIFT GPI with RippleNet via R3’s Corda Settler. The latter use XRP, and if that is the case, our previous XRP/USD trade assertions will be valid. With a 10 percent spike, it is likely that XRP could retest 80 cents.
Ripple Price Analysis
Fundamentals
Good news for Ripple and XRP. SWIFT, the global payment messenger platform, is in a proof of concept stage, trying out its new GPI Link payment standard withR3’s Corda. If anything—and if this testing phase is a success, then we could see SWIFT integrating XRP indirectly via the Corda platform. Remember, in Dec 2018, Corda Settler launched. Corda Settler is an application that facilitates cryptocurrency payments between enterprise blockchains via XRP.

We are excited to announce our partnership with @swiftcommunity to integrate gpi with Corda Settler. @Cordablockchain https://t.co/FyEJScr0j8
— R3 (@inside_r3) January 30, 2019

Furthermore, there is an existing partnership between R3 and SBI Holdings where the former has a 60 percent in the SBI R3 Japan venture. It doesn’t stop there. SBI Holdings also has a 60 percent stake in SBI Ripple Asia consortium, and the banking group is a keen supporter of XRP and Ripple solutions.
“SBI Ripple Asia is providing a next-generation payment platform powered by DLT (Distributed Ledger Technology) to financial institutions and remittance transfer providers in Asia as a joint venture of SBI Holdings and Ripple, a US FinTech venture.”
Candlestick Arrangements

From the above, it’s not hard to see why Takashi Okita of SBI Holdings is not pulling strings as SWIFT trials on Corda. XRP is up 10 percent at the time of writing with decent trade volumes.
We shall gauge the level of market participation by close but what is clear is that there is a double bar bull reversal pattern off 30 cents. The bar does confirm bulls of mi-Dec 2018 as well as bringing to light the previous trajectory set by Sep 2018.
Because of this, it is likely that XRP bulls will drive prices above 34 cents igniting risk-off long positions with first targets at 40 cents.
Technical Indicators
Even though we have a clear bull bar, transactional volumes are light—but above average. At the time of writing, today’s bullish engulfing bar was pumped by high-volumes –23 million. Trading ranges are extensive, but volumes are below those of Jan 28—31 million and less than 83 million of Jan 10. All the same, we are in the early stages of a trend reversal, and transactional volumes are building up.
The post Ripple Price Analysis: XRP Benefiting From SWIFT–Corda Trial appeared first on NewsBTC.
Source: New feedNewsBTC.com