Ripple Takes Over SWIFT And Institutional Interest In XRP Is Surging, Says CEO Brad Garlinghouse
Brad Garlinghouse, Ripple’s CEO has a lot to say about Ripple and their digital asset XRP.
He also addresses rumors that Ripple joins financial forces with SWIFT.
Ripple vs. SWIFT
During a new interview with Bloomberg, Garlighnouse was asked about the latest rumors claiming that Ripple and SWIFT will team up.
“Strictly rumors. There are lots of rumors, and I’m hesitant to comment on any rumor, because if you comment on the false rumors, then you have to comment on the true rumors. And so you just avoid all of them,” he answered.
What’s more interesting is the fact thatGarlihgnous said that such a partnership is entirely irrelevant, given the fact that Ripple is taking over SWIFT.
“I think what we’re doing and executing on a day-by-day basis is taking over Swift. In that, we’ve now signed up well over 100 banks. Some of the largest Swift-enabled banks in the world are now using Ripple’s technology.”
Garlinghouse addressed Ripple’s type of dynamic that SWIFT does not support.
According to him, Ripple is helping banks succeed in the new era of innovative technologies and also take advantage of the benefits that come with them.
He also said that “To the extent we can work with Swift to do that, then that’s great.”
What’s in store for the digital asset XRP?
Garlinghouse said that any crypto is valued these days based on the problems and it can solve.
He believes that people have already noticed that XRP has the ability to solve real-world problems such as the ones related to cross-border transactions.
Ripple is selling these technologies to banks and financial institutions as well.
Garlinghouse says that more and more companies are entering the XRP ecosystem and he gave Coil, the micropayments company, as an example.
Ripple’s CEO made sure to highlight again that XRP is 1,000 times faster than Bitcoin and 1,000 times cheaper than it.
He also stated that institutional interest in cryptos and especially XRP is on the rise and he brought up the parent company of the New York Stock Exchange, ICE which announced their crypto exchange, Bakkt, scheduled for launch in December.
Check out the complete interview here.
Garlinghouse is both the CEO and Chairman of Ripple Labs. This year, Ripple surpassed 300 partners, including over 115 banks worldwide. Having launched On-Demand Liquidity (ODL) for cross-border payments, Ripple now has more than 20 partners using XRP for ODL, including Moneygram, Western Union, and American Express.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.