SWIFT’s Integration of Ripple’s XRP Sparks Crypto Debate
In the ever-evolving world of cryptocurrency, a significant development has caught the attention of industry watchers. Crypto analyst BULLRUNNERS recently asserted that SWIFT, a global leader in financial messaging services, is integrating Ripple’s payment technology, specifically incorporating XRP. This revelation includes HSBC, a major banking institution, as a key partner in SWIFT’s ambitious multi-chain blockchain ledger initiative.
Allegations of Ripple’s Payment Integration by SWIFT
According to a post by BULLRUNNERS on social media platform X, SWIFT is actively embracing Ripple’s payment infrastructure within its revamped payment framework. This follows speculation about SWIFT’s impending launch of a multi-chain ledger, for which HSBC, known for its previous utilization of Ripple’s XRP Ledger via Metaco, is set to play a pivotal role as a managing partner.
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The crypto analyst further claimed that SWIFT has been experimenting with XRP on its payment networks since the last quarter of the previous year. A noteworthy comment from SWIFT’s CEO, Javier Pérez-Tasso, suggests a future where traditional finance (TradFi) and decentralized finance (DeFi) coexist under a comprehensive regulatory structure.
Moreover, BULLRUNNERS speculated that JPMorgan, the largest bank in the United States, might adopt Ripple’s payment solutions through its collaboration with SWIFT. Such a move could significantly enhance the XRP Ledger’s reach, potentially attracting a surge of institutional and retail participants into the XRP ecosystem.
Additionally, the pundit pointed to the recent introduction of the Permissioned DEX feature on the Ledger. This innovation aims to establish a regulated and compliant trading environment for institutional players, aligning with the Ledger’s strategy to attract major financial institutions.
Tokenization: A New Frontier for the XRP Ledger
In a parallel discussion, crypto analyst ChartNerd highlighted the potential benefits for the XRP Ledger arising from the ongoing tokenization trend, beyond just the integration of Ripple’s payment systems by banks. He referenced the Depository Trust & Clearing Corporation’s (DTCC) long-term objective to tokenize all assets under its management in collaboration with various layer 1 and 2 blockchain networks.
ChartNerd emphasized Ripple’s strategic acquisition of Hidden Road, which grants the company direct access to the U.S. Treasury market through the DTCC. This development paves the way for XRP and RLUSD to become integral to the institutional settlement process. He forecasts that the Ledger will emerge as the leading layer-1 network for the tokenization of real-world assets (RWA), poised for growth despite market fluctuations.
Currently, XRP is trading at approximately $1.33, reflecting a decline of over 6% in the past 24 hours, as reported by CoinMarketCap.
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