Brad Garlinghouse claims that Ripple is taking over SWIFT

Brad Garlinghouse claims that Ripple is taking over SWIFT
Nov 14, 2018 by Rico Wise

A common opinion says that Ripple is dealing with issues of big international asset transfers and dozens of major institutional clients serve as clear proof.

Garlinghouse boasts of no less than 100 SWIFT-linked banking institutions to have partnered with Ripple, and stated that despite the viewpoint of SWIFT, the blockchain and digital currencies can have a crucial part in the banking sector. As Ripple’s CEO said, quite recently SWIFT did not see enough potential in blockchain innovations in terms of solving the issues of correspondent banking, and Ripple has got more than 100 of SWIFT’s clients that prove the opposite.

Ripple’s digital currency experienced a solid price surge previous week due to rumors about the partnership concluded between SWIFT and Ripple, established with the help of RippleNet enterprise blockchain network. The rumor, however, ended up being entirely false, and Garlinghouse went as far as to say that Ripple is actually intending to take over SWIFT, making it clear for everybody that the Ripple does not plan on co-existence with SWIFT

Recently, Ripple faced a lawsuit accusing the company of engaging in an endless initial coin offering, and demanding the classification of XRP digital currency as an unregistered security, pursuant to the corresponding definitions envisaged by the federal and California legislation.