The Currency Analytics
By Steven Anderson
Brad Garlinghouse has led the market into thinking that a tie-up with Swift might be back on the agenda.
While talking at a panel at the Paris Fintech Forum, Garlinghouse stated that there were ways in which Ripple might be able to work with Swift.
Gottfried Leibbrandt, the outgoing chief executive of Swift, announced that international payments network would be partnering with R3, the blockchain company.
The Swift network boasts of 11,000 financial institutions with a daily turnover of $200 billion across the world every day.
Garlinghouse, who was speaking alongside Gottfried Leibbrandt publicly criticized that Swift's system was aging.
Gottfried stated that investors are willing to free themselves from the centralized system which is becoming stronger with time.
Garlinghouse opined that Swift was a one-way messaging framework. He further added that Swift was not a liquidity provider.
Ripple is looking for partners in the industry. Of note, Ripple already has multiple partners across the industry in different fields of technology.
Ripple has hired a General Counsel from the CIT group. Stuart Alderoty is the new general counsel.
Of note, Ripple is now fighting a consolidating class action initiated by the investors. The investors claim they have lost money by investing in XRP.
While the battle between Ripple and Swift is continuing, the price of XRP has gained by 15% than yesterday. At the time of reporting the news, XRP was trading at $0.32.
Meanwhile, it is seen that the Euro Exim Bank with a Class A International Banking License from St. Lucia sees promise in Ripple.
Graham Bright, the Head of compliance and operations with Euro Exim Bank stated that there is a new program called xCurrent, a pilot project that is a lot similar to what Swift…