SWIFT

Rent_South

So you are saying that SWIFT works, or will work, with chainlink ?

FeedNo1628

The Kaspa community is a religious cult.  I own Kaspa but I am a realist who believes in constantly challenging my thesis so if I go off track in my investments I can course correct and not spend years offtrack and being foolish daydreaming about some magical coin that will change my life.  For example, Take a look at Hedera and the actual institutions planning to use it to replace the whole damn SWIFT banking transfer system, with actual plans in place and deals being made.  All I hear from Kaspa is journeymen marketing people saying maybe this, maybe that, where are the institutions?

intelw1zard

They are called international sections for a reason. They cant use SWIFT or any of the main traditional banking systems. https://en.wikipedia.org/wiki/International_sanctions_against_North_Korea Thus they use hacking crypto as a way to get funds to use for various programs internally like their nuclear and arms ambitions.

ThriceHawk

I wouldn't remove either, but honestly I'd remove ETH before LINK. The largest financial institutions, SWIFT, etc. are all using Chainlink to be able to connect to any chain. Whether they use ETH, AVAX, XRP, etc... they'll still always be using LINK. Crypto is massively dependent on DON's and there isn't another coming close to Chainlink so far.

hblok

Want to make an international transfer to the grandchildren abroad? Yeah, so just make sure to know the name and address of their bank, the SWIFT code, clearing number and of course the IBAN. Also make sure to tick off the correct sharing or payment of transaction fees (which will show up on your bill a few weeks later). The transaction will be executed within a day or two (but not during weekends or holidays) and they can expect to have the money on their account by the end of the week. But just to be sure, it's best to call them up to confirm. Compared to this mess, it seems getting crypto grandma-proof is a pretty trivial UX problem.

VectorBoson

You really need to go back to the basics of how bitcoin mining works, and the difference between the network security offered through mining hash rate and the security offered by private/public key pairs. It is impossible for someone with 51% of the total hash rate to steal your bitcoin since they would still need the private keys. All they can do with 51% of the hashrate is censor transactions (which is not a problem in your fictional scenario if nobody is transacting to begin with) and double spend their own bitcoin which would certainly be bad but would be obvious what was happening. Old blocks that are cemented in the blockchain are still safe. In a world where bitcoin is a major global asset, I have to imagine miners would come online solely to suppress the attack if not for any other reason, to protect the value of the asset for their own selfish reasons. I also think the scenario where bitcoin is a major global asset and nobody is transacting on the base layer is fundamentally wrong. Base layer block space will become like prime real estate when all bitcoin is mined. The average bitcoiner in the year 2140 will have no hope of using the base layer if bitcoin is still around by then and will have to rely on 2nd layer solutions. Transactions will be so prohibitively expensive that only nation states and large corporations will be able to use it since the demand for transacting with the world's best bearer instrument will only increase over time. HODLers are not the only ones using bitcoin in this future scenario where bitcoin takes over, it will also compete with things like the SWIFT banking network and Fedwire for final settlements between institutions. There will still be a huge incentive to mine if bitcoin is thriving in the year 2140.

RogueAxiom

Know Your Customer--rules that financial institutions who wish to access the SWIFT system must verify the identity, residency and source of a customer's money before conducting banking on their behalf. In crypto, to convert fiat cash into crypto or withdraw sold crypto as cash, you need to be KYC'ed somewhere.

FL_Squirtle

You better hurry traditional finance institutions who run the show (DTCC, Euroclear, SWIFT) are all giving roughly 8 months time frame before full scale tech adoption which will be hand in hand with BTC digital gold rush.

Only_Tumbleweed1230

Nah, there is a reason why a lot of the traditional finance are going into crypto and co-operating. They wouldn'T do that if they didn't need it. The whole SWIFT process works for many but crypto does it faster and that's why swift is into it too.

MorePower1337

>I get what you're saying, and yeah, I can see how you’d argue it’s doing both. But here's the thing: if the "real-world problem" (like connecting financial systems to real-world data) is already solved by traditional banking systems, do we really need it to be solved in a new way with crypto? This is exactly what people said about the internet. Do we really need this "internet" when we already have radio and cable working just fine? Sure, people point out things like SWIFT partnership and more, but the honest answer is that nobody knows what the future of decentralization looks like and how useful (or unused) it will eventually be. Its still so early...

jeepbraah

Interesting that Deutsche Bank is part of SWIFT, and SWIFT is planning live usage of ChainLinks CCIP starting next year for blockchain interoperability.

FL_Squirtle

LINK gives me exposure to everything in the market due to becoming the standard for TradFi and DeFi so I'm LINK maxi. Everything in the space needs it and will use it if they aren't already. Coinbase adopted it. Most large projects have adopted it. DTCC who processes trillions in value and wants to bring their entire ledger on chain has adopted it. SWIFT, Euroclear, etc. It has become the standard and will be one of the best investments opportunities of our lifetime. Even at the price it is now. It's going to 80 this cycle, and has the potential of reaching 450 if we see a super cycle. Long term it'll be top 3 mcap and a trillion dollar mcap asset like BTC.

jjd1226

its slowly rolling out since there is a lot of hoops to jump through. XRP was officially recognized by SWIFT as a bridge currency, marking a shift from rivalry to complementary technology. SWIFT’s vast network of over **11,000 banks**, moving **$150 trillion annually**, benefits from XRP’s **low fees** and **speed.** SWIFT partnered with **R3**—a blockchain consortium—to improve cross-border settlement through R3’s **Corda Settler** platform. XRP is integrated into Corda as the **first bridge asset** for settlements, enabling interoperability between traditional SWIFT systems and blockchain technologies . This indirectly connects XRP to SWIFT’s infrastructure, creating a bridge for **on-demand liquidity** and positioning XRP as a tool for solving inefficiencies in cross-border payments. [https://x.com/RippleXrpie/status/1838559486245535983](https://x.com/RippleXrpie/status/1838559486245535983) [https://steemit.com/ripple/@bemky/a-list-of-all-ripple-partnerships](https://steemit.com/ripple/@bemky/a-list-of-all-ripple-partnerships)

jjd1226

Traditional systems (like SWIFT) require banks to pre-fund **Nostro/Vostro accounts** in multiple currencies across jurisdictions. This ties up billions of dollars in **trapped capital**—funds that could otherwise be used for loans, investments, or operations. Even stablecoins don’t fully fix this because: * **Stablecoins require reserves:** Banks would still need to hold reserves of stablecoins in multiple jurisdictions, which recreates the same capital inefficiency. XRP eliminates the need for pre-funding entirely. Here’s how: * XRP acts as a **neutral bridge asset** between two currencies. * Institutions use **On-Demand Liquidity (ODL)** to convert **Currency A → XRP → Currency B** in real time. * Transactions settle in **3–5 seconds**, eliminating the need to hold reserves of multiple currencies or stablecoins. This frees up trapped capital and creates more **efficient liquidity** provisioning—something no stablecoin or fiat-based system can match. Ripple’s ODL technology is already doing this for payment corridors across the globe.

Next-Cost-537

Ton of partnerships (SWIFT, coinbase, Euroclear, etc). WLFI (run by Trump and his sons) purchase of $2m worth of LINK (and a $1.2m of AAVE) last week. LINK is a real project with real world use cases, not just talk. Only negative imo is tokenomics. Only 65% of supply is in circulation. Do your own research, but I think it's a huge buy at these prices. Pretty sure it's gonna hit ATHs (and more) in this cycle.

redubshank

They 100% can but the ODL system that Ripple patented ONLY works with XRP. ODL means On Demand Liquidity which helps make sure that the the funds they want are available during the transfer. I believe XRPL has a pathfinding algorithm built in so it always tries to find the best route for speed/liquidity. Supposedly this will be XRP most of the time. Since the name of the game here is cross border transfers the banks won't case as much about the medium of exchange as long as they can transfer in a quick and efficient manner. The current system, SWIFT, can take days, requires the banks to either have the various currencies on hand, which ties up a lot of capital, or it needs to route through intermediary banks until they can get to the correct currency. Each bank takes a fee and a conversion fee which is percentage based. It's a dinosaur of a system. This is the market Ripple is trying to disrupt. And SWIFT processes trillions of dollars a day.

jjd1226

You're absolutely right: XRP has positioned itself as a leader in the transition to blockchain-based financial systems that might just disrupt the traditional methods of SWIFT. The XRP Ledger provides unparalleled speed and cost efficiency, with transaction finality in 3–5 seconds and fees of less than $0.002, thus making it an ideal choice for cross-border payments​. Already, On-Demand Liquidity solutions from Ripple cut pre-funded Nostro / Vostro account dependency, freeing billions in working capital for businesses and FIs​. Additionally, the neutrality of XRP as a bridge asset connected different fragmented liquidity pools worldwide without the friction that was innate within classic systems​. Their biggest turning point, however, was a form of regulatory clarity oiled by their partial win against the SEC. The transparency brought back confidence, such that even major relistings in exchanges like Coinbase and Kraken and huge institutional adoption​ are possible today. With the green light to such stablecoins as RLUSD on the XRPL, Ripple finds itself deeper in traditional financial ecosystems​. Further, with the growing ecosystem for XRP extending its utility way beyond the realm of payments to the NFT, DeFi, and enterprise solution arenas, this diversified utility further sets a base for its growth potential in the long run. Valuation models have proved that with widespread adoption, the fair market value of XRP may see manifold increases. For example, one estimate by the "Quantum Liquidity Model" assumes that in scenarios where XRP becomes a dominant tool in global settlement-for instance-its value can reach $10,000-50,000 per coin.

metalgearnix

Do you know how a direct debit works? Do you know how a SWIFT payment is made? Mmm...

THESTRANGLAH

You've missed the core of my question. You're explaining how Chainlink works within the crypto ecosystem—merging TradFi with DeFi, enabling private and public blockchains to communicate, facilitating tokenisation, etc. While all of that is interesting, it still seems like Chainlink is solving **crypto problems** rather than **real-world problems**. Take your point about TradFi. You mentioned private blockchains needing to interact with public ones, but **why would TradFi even need that?** Traditional finance already operates efficiently with centralised systems like SWIFT, and newer solutions like Wise are improving speed and cost without the complexity of blockchain. For banks or payment companies, there doesn’t seem to be reason to adopt Chainlink or even blockchain at all when their existing infrastructure works just fine. As for tokenisation and 24/7 trading, these are intriguing ideas, but they feel more like speculative use cases rather than immediate needs in the real world. TradFi markets function well within their current operating hours, and while 24/7 trading might be nice, it doesn’t solve an existing problem that companies are desperate to address. So my original question still stands: **is Chainlink solving real-world problems that exist outside of crypto, or is it just enabling the crypto ecosystem to function?** Most of what you’ve described seems like “blockchain for the sake of blockchain,” and I’m struggling to see where the broader, non-crypto demand comes in. I’m not trying to be dismissive here; I really want to understand. But until there’s a clear reason why Chainlink’s technology is essential for industries outside of crypto, it’s hard to see its value breaking out of the niche.

mbate2305

Chainlink are blowing the smoke on the level of taking over the payments world they think they are going todo, they have done a POC with SWIFT as part of project guardian.... using existing industry standard iso20022 messages... they created a pain.001 (payment initiation message) and received a pain.002 (payment status message). something you can get chatgpt to write you code todo in 5 mins... then they stored the result cross chain... using ccip... yes this bit has value... they have an unbelievably good marketing approach and they without doubt are on the top of in terms of oracles, but they aren't taking the world of payments over...as some of the link maxis will violently argue ..... I think they are an interesting play and may invest but I stick with my XLM /XRP holding ...6+ years holding/adding.... I won't be selling either any time soon....

FL_Squirtle

Initially SWIFT was using it for messaging but they've since partnered under the enterprise option which includes all of the functions Chainlink is rolling out. This being the biggest one of them all. An additional layer on top of the existing runtime environment that the entire world already uses. This adoption is happening. Chainlink has become the next standard. https://youtu.be/66fFBNDGEn4?si=3SmwQ9_g-AZlnq10

zloiadun

One thing many are missing is that SWIFT is not moving any money. It is just a messaging system where you send payment instructions. Actual money transfers are executed by banks where they decide how they will cover money movement. SWIFT is also a standard and a rule book for banks on how to do cross-border payments, but it doesn't hold or move any money. It does not have a ledger of transfers, every bank have its own ledger. Ripple uses Bitcoins' approach on transfers/payments where all transactions are stored in a single distributed ledger. Ripple ledger is centralized and that allowed it to succeed in its use case which is to simplify cross border payments execution.

t_dog581

Yes. SWIFT = Days. XRP = 3-5 seconds

subdep

Faster than SWIFT?

subdep

Right? XRP is centralized which is what the SWIFT network is. This is like switching out fluorescent bulbs with LEDs and cheering during the daytime while ignoring the light from the Sun, which is Ethereum.

womb0t

Credit to u/Odd_barracuda9803 Information with swift working with iso20022 below "Here’s all my research on the 2025 implementation. It’s already been finalized for years that XRP is the upgrade to SWIFT, the global banking system for cross boarder payments and hundreds of Countries are already signed up  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022 https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf https://www.iso20022.org/ https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf Dug up the new financial system structure that will be implemented, first link are cryptocurrencies that are verified to be able to be used with the new iso 20022. Cash will still be available it's only for quicker more efficient payment transfers for less cost. On an investment side of things it's valuable information ahead  https://www.iso20022.org/registration-management-group-member-list List of financial institutions, Ripple being the first Cryptocurrency in the list of cross boarder payments, with the first list provided of the 9 current cryptocurrency technologies will in a sense be like investing in amazon in stocks among others. Even though the worlds not going in the best direction, making a nest egg along the way to witness it can be beneficial with weighing advantages vs disadvantages https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022  https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf  https://www.iso20022.org/  https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf  https://www.iso20022.org/registration-management-group-member-list  https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments"

hargao25

Replace SWIFT... lol

Change21

XRP’s value prop is not that it’s decentralized. It in no way attempts to solve the problems that bitcoin solves. XRP is a tool to bridge crypto’s and currencies. It’s a link between modern money and post modern money. It’s primary designed to upgrade and replace the SWIFT network.

JesusofRave007

I agree for the most part, decentralization comes at the cost of efficiency. Bitcoin and stable coins have solved some issues in cross payments especially for countries with remittance laws or not part of the SWIFT banking system. BTC has established itself as the digital gold and way to store wealth without fears of government regimes. With CBDCs coming soon, BTC will soon be the only way to regain some sort of financial privacy and censorship resistant way to transfer wealth.

PsychoVagabondX

What use case? Even if you believe the claim that they will be taking market from SWIFT, they won't be transacting using XMR, they will be transacting using their stablecoins. XMR was just an IPO where they didn't have to actually give you any equity in the company.

greenskeeper01234

I shouldn't have asked what the foundation would be. It's clear it's ETH. I'm trying to find out what projects people think are going to be pivotal in everything we do as humans. For example, the theory that XRP is going to replace SWIFT and take care of global banking transactions. What players are going to stand out like them? To make all of this work, from a global perspective?

ShotgunMessiah90

Chainlink has become a key player in connecting blockchain with traditional finance through partnerships with institutions like JPMorgan, SWIFT, and BNY Mellon. Its collaboration with JPMorgan in the Smart NAV project used CCIP to tokenize real-world assets and share NAV data across blockchains. Chainlink also partnered with SWIFT to test CCIP, enabling financial institutions to integrate with blockchain networks. These collaborations underline Chainlink’s critical role in cross-chain communication and its importance to the future of blockchain adoption in finance.

StatisticalMan

In the US we just call it bank wire. I think the international term would be SWIFT.

Mountain-Ad326

Been around since 2014 and done absolutely nothing. Stables on SOL and ETH do everything XRP does already and its free less fees. Stables wont displace SWIFT anytime soon either so there is 0.0% chance XRP does. I work for banks. I remember ripple wining and dining us around 6 years ago, they were desperate to get it in then but we couldnt see the benefit. Its done nothing since then and it wont do anything. A technology made obsolete before its introduced. That aside, learn to read a chart. BTC NOV 2018 - $4,000 BTC NOV 2024 - $99,000 XRP NOV 2018 - 0.55c XRP NOV 2024 - $1.90c

TheRicFlairDrip

You laugh but just like other LINK maxis on here you don't have a thorough technical explanation on how exactly LINK is supposed to work with SWIFT. I've been developing x-chain projects since 2021 and the LINK shilling red flags I've seen on this subreddit are alarming.

TheRicFlairDrip

you cannot solve the impending liquidity issue with LINK and SWIFT, it wont work for bank transfers. XRP is the superior solution here, ask chatgpt.

ArgzeroFS

In part this is a decision you have to make for yourself. I personally like XRP but do your own due diligence and read about which ones exist. Also maybe learn about things like SWIFT and ISO 20022.

tsbsa

I reentered on the way up this time around, but I've been in on and off pre 2017 ATH. Sold the ATH, bought the next bottom, then sold the 2021 high. If say worth loading bags when it was below a dollar still, but we already pumped near 400%. Really all depends on the SEC case, and the rate of adoption of Ripple services. Most of their private services won't be using XRP directly, though because they utilize the XRPL, XRP is needed to operate any other tokens and systems. I'm very very far from one of the XRP conspiracy theory weirdos that believe in the whole "great reset" crap and the fabled "switch flipping" completely replacing SWIFT overnight. That shits some insane copium. The XRPL is a really awesome protocol though, and is so much more than just the price of XRP. We COULD still see a big rally again, but if you're friends are falling victim to all the XRP conspiracy shit, I'd warn them against joining the cult... I'm actually banned from r/XRP and r/Ripple for questioning the conspiracy crap and talking shit about the XRP conspiracy youtubers, as many other have been too. Have talked with quite a few folks that strongly believe that those two subs are run by the folks making the XRP conspiracy content on YouTube. Talk out against them, and it's an instant ban. Some fall deep into the rabbit hole too...like joining XRP conspiracies into qAnon crap. There's some nutters for sure in XRP. I see it as a long LONG term hold for most folks, though with really large bags, it swings so much that you can easily make good money day/swing trading XRP.

dj_destroyer

The USA seized them through voluntary means and/or found the keys. VERY DIFFERENT. If I memorize the keys in my head, there is no way to confiscate them other than torture or voluntary means. Also, someone getting hacked is also very different than Bitcoin getting hacked. Bitcoin is secured by SHA-256 which is not getting broken anytime soon. On the other hand, banks and payment processors are hacked all the time: * **Bangladesh Bank**In 2016, hackers stole $101 million from Bangladesh Bank's account at the New York Federal Reserve Bank. The theft was the result of cybercriminals exploiting software vulnerabilities in SWIFT's Alliance Access software.  * **Banco del Austro**Hackers stole $12 million from Banco del Austro in a SWIFT hack. Wells Fargo was blamed for the theft, but recovered and returned $1.85 million to BDA.  * **BMO**In 2024, 140 BMO customers reported losing $1.5 million in transfer frauds. The malware used in the attack could evade advanced scanning programs.  * **More than 100 banks**In 2015, a Moscow-based firm estimated that more than 100 banks and other financial institutions in 30 nations lost $900 million in a cyberattack. That's the reason your bank needs to offer the service of "reversing" charges because otherwise no one would use them. Bitcoin doesn't have to do this because as long as you're not careless, no one can take your Bitcoin. This is a feature, not a bug. If a bank can reverse charges then they can also take your funds. Ask people in third world countries which they prefer and trust more.

Upbeat_Ad_8655

They forget ( or want to forget) banks don't like to replace tech that is currently working. They still use COBOL since the 60s... Why would they replace SWIFT?!!!

1fojv

Imagine a decentralized SWIFT payment network or VISA network. That's what Bitcoin is.

LearnedToe

Definitely! Chainlink and Algorand come to mind. Chainlink has more than 2,200 real world projects, including with: - Google Cloud: Integrates Chainlink’s decentralized oracles to enable hybrid blockchain/cloud applications. - SWIFT: Collaborates with Chainlink to explore blockchain interoperability. - Oracle: Uses Chainlink to connect smart contracts with Oracle’s cloud infrastructure. - Associated Press: Provides verified data to smart contracts via Chainlink. - Fidelity: Leverages Chainlink for secure data feeds in financial services. - DTCC: Uses Chainlink for post-trade financial services. - ANZ Bank: Integrates Chainlink for secure financial messaging. - Hedera Hashgraph: Partners with Chainlink for decentralized data feeds. - Polygon: Uses Chainlink for secure and reliable data feeds on its network. - Aave: Integrates Chainlink for decentralized finance (DeFi) applications. I’m super excited about the recent announcement related to the universal gas token. They worked extra hard during the bear market and it’s paying off. Source/For the ecosystem: https://www.chainlinkecosystem.com/ A second impressive example is Algorand. They’ve got some seriously innovative projects that demonstrate Algorand’s flexibility: - Lofty: This platform allows users to invest in tokenized real estate, making it possible for anyone to own a fraction of a property. - Wholechain: Utilizes Algorand to enhance supply chain transparency and traceability, ensuring the authenticity of products. - Agrotoken: Uses Algorand to tokenize agricultural commodities, providing farmers with more liquidity and better access to financial services. - TravelX: Pioneers the use of NFTs for airline tickets, enabling secure and flexible travel bookings. - HesabPay: The first interoperable digital payments platform in Afghanistan, leveraging Algorand for secure and efficient transactions. - Data History Museum: Uses Algorand to preserve and authenticate historical data, ensuring its integrity and accessibility. Source/For the ecosystem: https://algorand.co/ecosystem/overview

Longjumping-Bonus723

HBAR ALGO XRP XLM XDC LCX ADA QUANT My portfolio is this -LCX because it's just a exchange +LINK because they work on updating SWIFT

SunDreamShineDay

> There’s no blockchain company out there with this level of development that isn’t purely speculation. I disagree with this statement, Ripple certainly is a company that is working with countries on the development of CBDC programs, it is not speculation that they are doing so. CBDC Tracker is a watchdog site that tracks such development, if you head there and use the dropdown and pick the countries that I am aware of Ripple working with, there will be details of the projects and Ripple’s involvement: Hong Kong, Columbia, Palau, Bhutan, Montenegro. https://cbdctracker.hrf.org/home I own Link, I believe CCIP is great tech, big fan of Nazarov, but Chainlink’s involvement is not offering a CBDC solution to Brazil, that would be Microsoft Brazil’s role, however they are working with Microsoft Brazil by offering CCIP so that the oracle features of CCIP can be used for the Drex CBDC project. Microsoft Brazil’s own page about the Drex project from June 20, 2024 does not contain the words Chainlink, Link or CCIP. This may be because Chainlink’s involvement wasn’t reported on until November 2024 and Microsoft Brazil hasn’t updated their site, but seeing that Microsoft started this program prior to Chainlink’s involvement gives weight to the fact this CBDC project and the development is not Chainlink’s. I know CCIP is being used, plenty of articles, my point here is that this is not a CBDC project of Chainlinks, CCIP is a piece being used in the program. My car came with GoodYear tires but to say it is the development of GoodYear that has made the car is not the same as building the car, or that there is no tire company out there with this level of development that isn’t pure speculation. https://www.microsoft.com/en-us/industry/blog/financial-services/2024/06/20/central-bank-digital-currencies-accelerating-a-digital-economy-with-advanced-technology/ However Ripple has built the car, and Ripple is developing CBDC programs, there‘a no blockchain company out there with their level of development. >Besides even if Ripple develops a CBDC or two, you need LINK to connect to global finance and allow people to do things like convert ETH to a local CBDC and exchange that for a tokenized fund for investing. The XRPL's Oracle is protocol-native, it is built into the network itself rather than being layered on top like what is done with CCIP on top of Ethereum. There is no need to use Chainlink with the XRPL, however it can because the XRPL’s Oracle is agnostic, external oracles can feed the XRPL, and currently Band Protocol and DIA are connected and being used as well. >I don’t know why everyone’s so focused on this CBDC use case when the bigger picture bank coin is sitting right there partnered with SWIFT, DTCC, and several major banks. 🤷‍♂️ Not sure everyone is focused on the CBDC use case, David Schwartz has spoken about they saw a need and may have been jumped on too soon, and the need is still infantile, however they did, and have that to offer as a product along with the many products and services they offer to their clients. If you are interested I can link articles where Ripple is working with banks and payment companies, I can even link articles where Ripple is working with banks and payment companies and XRP is mentioned as being used. I have curated these lists to post 2020 partnerships and articles only for more up to date info. Just let me know. > If it’s not speculation, please name one verified partnership in production and link me the article. I’ll gladly take it back if you can do that. I am taking you up on your offer and holding you to it. 🖖

opensandshuts

If it’s not speculation, please name one verified partnership in production and link me the article. I’ll gladly take it back if you can do that. There have been some small CBDCs so far, and [the only one I know of uses Algorand](https://algorandtechnologies.com/ecosystem/use-cases/marshall-islands-sov). The other are using DLT tech that is not specified as a blockchain. Either way, based on what has ALREADY been deployed…different countries are using different technology, which is what LINK has been trying to tell everyone for years. Besides even if Ripple develops a CBDC or two, you need LINK to connect to global finance and allow people to do things like convert ETH to a local CBDC and exchange that for a tokenized fund for investing. I don’t know why everyone’s so focused on this CBDC use case when the bigger picture bank coin is sitting right there partnered with SWIFT, DTCC, and several major banks. 🤷‍♂️

LesGaz

You only need Chainlink. Read into the work they've done with SWIFT and the DTCC. Nothing compares.

redubshank

Certainly possible but SWIFT has already tested out Chainlink with good results. And yes, I consider both XRP and LINK speculative because we are relying on their adoption.

redubshank

SWIFT processes over 44 million messages a day. I don't think timing is going to be an issue. Additionally, XRPL has their ODL system which helps guarantee liquidity since it can pull from numerous sources at the same time. XRPL also has a path finding algorithm to help determine the most efficient and fastest way to do the transfer. It also checks for liquidity and can pull in other assets to help if needed.

GdlEschrBch

I feel they would group together and define a standardized system (like with SWIFT?) long before they would adopt a publicly available token run by a centralized entity.. Maybe I’m way off though, who knows, but sounds extremely speculative

reneedescartes11

Why would bank switch to XRP when they can just use LINK which has already partnered with SWIFT?

redubshank

>does XRP’s utility even matter? Absolutely. >If I can’t grasp what makes it special, can its so-called "utility" really hold any value? Yes, your ability or inability to understand something does not contribute to it's value in any sort of way. I'm not the best at explaining to something to a 5 year old but maybe I can help. XRP is made by Ripple. Ripple created their ledger system, XRPL and their patented On Demand Liquidity(ODL) system with XRP in mind. XRPL can and does handle other currencies. Ripple's goal is to distrupt and replace the current bank to bank and cross border transfer system. The current system is SWIFT as well as a nosotros/vosotros system. The problems with these systems is that they are very slow, very expensive and require the banks to carry a large amount of money on hand since, in a lot of ways, it's a really complicated IOU system. With the current system you want to transfer money from the Mexico to Japan that means either Mexico has to have the Yen on hand for conversion or JPY needs to have mexican currency(sorry, i forget the abbreviation. Been out of forex too long) on hand. If this is not possible it needs to go through a chain of intermediaries until you can get to a compatible currency pair. This is why it can take 5 days and a lot of fees. Like... millions. So, here is our XRP/XRPL system. I'll just bullet point the advantages over the traditional system: * It eliminates the need of tying up a large amount of capital in various currencies just so you can handle conversions. You simply need XRP(or some other currency) as a bridge. XRP is ideal for that bridge. * It's fast. 2-5 second settlement time. The current system takes 1-5 days. * Cheap. Something like 0.00001 XRP so, realistically, always less then a USD penny. With conversion fees SWIFT can be 1-5% as well as some other fees. * While XRPL can use various crypto currencies, XRP is the ideal bridge currency. Their ODL system only uses XRP. Since we are looking at transfers that might be billions of USD in value their ODL system is going to be utilized quite a bit. So, while you might not value the utility you can perhaps see why large financial institutions will value it. A lot of the reasons why some crypto bros here hate it is actually the reasons why large financial institutions will find it attractive. Now, there are some other coins/blockchains that can handle most of these functions now but it's silly to dismiss XRP as a 'shitcoin'.

m1kedrizzle

Dude this is fun but I’m not going to look for articles all night. But BRICS is still an option for ripple which works completely independently of SWIFT. Ripple doesn’t need to take over swift, they can just build API and partner with them. chainlink works to solve oracle problems. XRP is trying to improve cross border transfers. They’re really not the same. Chainlink success will not impact XRP and vice versa. Bank of America and Brad garlinghouse has hinted at a partnership numerous times with regulatory clarity being the only thing holding them back - which we’re all expecting to happen within trumps term. This is when you’ll hear more about adoption.

thegiftcard

Xrp is simply a Y-copy of SWIFT. It mimics their exact behavior. It was even ahead of swift, in the beginning. Not anymore... probably sagging behind and not showing any interesting progress

trsjecko

Well yea you really except the rich just going to let go of there power? If thats so crypto wouldnt be used in the real world if they dont gain from it. To my understanding its made to work with or replace SWIFT the system banks use now to transfer money to other country and that takes days. XRP would do it in seconds including conformation of the trade.

takemybomb

Xrp is the coin that will take the place of SWIFT protocol, hopefully this is the bet. Bank transactions are so slow very slow and very costly. They also ask many reasons for the transfers of your money. Xrp solves all that. Here why people love it and maybe they are right to love it.

bailtail

Problem is LINK is arguably better-positioned to fulfill XRP’s use case, now. Their CCIP was a game-changer and is already undergoing SWIFT integration of a successful pilot.

FL_Squirtle

When I say going all in I'm not necessarily looking at just the buys coming in. I do feel we're watching the digital gold rush unfold especially with institutions seeing what Saylor is able to do. More so I'm following the blockchain tech adoption that's happening by all of the major financial institutions that manage the entire worlds wealth. Institutions like DTCC, SWIFT, Franklin Templeton. We're seeing world institutions stepping in to adopt tech and bring 100s of trillions in assets onto the blockchain. Everything being built to this point has been alpha and beta phase. These institutions moving forward with adoption and tokenization is moving into production phase. What the crypto space has seen so far is just a small fraction of what is right around the corner. Top execs at these institutions gave a time frame of 6 to 12 months about 2 months ago.

nugymmer

Where does LINK come into this? I'm presuming that SWIFT integration, and big financial players are interested in this one.

iH8PplPlzrs

I don't understand how people aren't higher on XRP. Large financial institutions are adopting it. It's not just a crypto, it has real world application. SWIFT transactions will be phased out completely in the next decade. Whether XRP remains the king at that point, can't say, but regardless, SWIFT is otw out.

redubshank

There is a decent chance that XRP has the most well defined utility. It was specifically designed to handle cross border transfers. The current system which is SWIFT and Vosotros/Nosotros accounts, is incredibly slow and expensive. Depending on how many banks/conversion involved it can take 1-5 days and up to a 5% fee(though usually much less). XRPL and it's ODL system(On Demand Liquidity) can settle those transfers in 2-5 seconds and it costs something like 0.00001 XRP. Their ODL system, which is patented, has to use XRP. You can still use XRPL without using XRP but the ODL system requires it. You could use XRP for other things like peer to peer payments but XRP has a company behind it and they are going after financial institutions. All that being said, there are other system that could work now. The SEC kind of hamstrung the XRP at a critical time. Does that help?

Slajso

Well, in theory, if everything gets "digitalized", and gets on blockchain, the total MC would be in Quadrillions. I think this is the main reason why some people say MC doesn't matter. Then it would just depend on how many "coins" would be used to facilitate that amount of money on a daily basis, and what % of that "pie" each of them gets. I have no idea if that will happen, nor does anyone else, but it is (a part of) their plan. That said, I'm fairly certain there will be more players than just SWIFT, compared to the "old system".

Ancient_Big_2564

Imagine XRP replacing even half of swift within the next 10 years. At \*\*current\*\* valuation, SWIFT does 5T daily, 1.2Q annually. If XRP tokenizes even half the business SWIFT does after 10 years, even though it's infinitely better, that's 2.5T mcap. That's 23 dollars per XRP. That's current rate without 10 years of inflation or institutional buy ins and supply shock. XRP can store more data tokenized with higher value coins. In order to do 2.5T daily in transactions, you think the coin can be cheap? It'll need to inflate in order to hold the amount of data the SWIFT standard goes through. That's why mcap doesn't matter. It isn't retail people buying doge. It's institutions putting deeds, wills, all their transactions. This is going to work for ALL USA banks in March 2025. Their RLUSD will hopefully be replacing tether and will offer liquidity to any chain XRPL is connected to. The high price predictions, unless they're a regarded day trader, are long term. BTC only has value cause whales kept buying it. XRP has value in that it can settle infinitely more volume than SWIFT and, should global adoption happen with tokenization, the price is going to skyrocket.

magic-karma

Isn’t the “math” the thinking of SWIFT adopted XRP then to handle the current cross border payments it would be $1000+per?

Ares2k9

Here is a quote from one According to Ripple, the network effects of FedNow will start to take effect within the next year, potentially disrupting the American payment scene and encouraging clients to prefer the Ripple network over the traditional SWIFT network. But ya there will be effect you are right

Dicey684

Just google it you twats. It depends on the transfer “SWIFT transfers can cost around $30 to $50, but can be as high as 3-5% of the total amount sent.“

DefactoCryp70

Though who really knows cause xrp does much faster transactions than swift and is already setting up to replace it. SWIFT is the payment rail that facilitates cross-border transactions by transmitting payment details between financial institutions in different countries literally moving trillions of dollars. That's one of the reasons they were in a lawsuit with Sec for nearly 4 years. And they won that case

ip2_always_wins

>Tl:dr >Xrp is faster and cheaper than anything else. This is what confuses me. I'm sure Ripples' tech is great, but I don't see where the XRP token fits into all of this. In my mind it makes no sense from a business perspective to include a publicly tradable crypto token which has an extremely volatile market price that could be ± 50% on any given day just to have access to a settlement layer that already exists in a centralised format without all the hurdles of involving a speculative crypto token. I can send money in any currency to anyone in the world in less than a second using PayPal and other centralised money services. I'm sure the tech already exists that will replace SWIFT (or that SWIFT will adopt/transition to). If you're wondering why banks aren't already using them, just imagine the scale and extreme complexity of the current world financial system and how it may react to a sudden change in technology. SWIFT, in its current state, just works and that's probably why it's still being used, despite its aged tech. There are probably hundreds if not thousands of payment solutions or settlement layers that exist or are in development which do the same job Ripple have been promising, you just don't hear about them because they are most likely small silicon valley startups and private companies who discuss business and potential partnerships in private. Ultimately, I just can't see why any bank or institution would choose to implement a speculative asset to their already complicated payment system that is the literal backbone of international finance.

spoofy129

In no world is SWIFT charging 10% It was my understanding that using ripple for transfers didn't actually require the use of the token. Is that not the case?

Rey_Mezcalero

I’m not sure why XRP is going up so much. “Ripple” will benefit from making a potential government token but it isn’t XRP. Some rumors about no capital gains on several crypto. Maybe end of SEC scrutiny. But XRP isn’t taking over SWIFT, isn’t going to be the possible gov stable coin. Sure hope people have stop orders

Boniouk84

Because marketcap applies to asset prices, but if i said, whats the marketcap of the USD, or of hot dog valuation eaten per year, it becomes less important as its transacted value. Marketcap isn’t used to measure liquidity, which is what XRP is trying to offer. Example. I owe you $10 and i have 2 tokens worth $0.10 each. I can’t pay you back. If i value those tokens at $5 each though i now can. Which is what XRP would have to do to enable their limited tps and token volume divided across corridors to transact what Swift transacts. The high valuations of xrp aren’t just made up to be silly, they are the valuations that would need to be in place to replace a fiat system. Specifically $500-700 to replace SWIFT and $35k to transact global asset values, ie stocks, real estate, options/futures, literally everything. Will it hit either of those in our lifetime? Probably not. I have a target of $5-14 for this cycle. That said, marketcap is irrelevant.

gsnurr3

That is correct. Transactions on RippleNet require no XRP dependency. This is similar to what SWIFT offers. Is the option there to use XRP, yes. Banks aren’t using the network for XRP (the coin). They are using it to record the transaction.

Outsider-Trading

Hundreds of trillions of dollars of Assets Under Management between these institutions. SWIFT and DTCC settling quadrillions in securities transactions every year. And they are all coalescing around Chainlink as the interoperability, messaging and value transfer standard that will allow them to plug their existing legacy systems into the new financial internet. And this is all going into production as we speak, after years of pilots. However hype you are, it's not nearly hype enough.

opensandshuts

Appreciate the LINKs 😉and will take a look. Key call outs of the Vaneck article at first look: - it readily admits LINK is by far the most developed oracle in terms of partnerships and total value secured. - Total value secured is 8x what PYTH has done. - “Quickly losing market share” - this is expected when you are the leader in the space. You have everything to lose and very little to gain. - Losing market share is like McDonalds and a mom and pop burger shop. Is McDonalds technically losing market share? Yes. Is it material? no. I’d be more interested in knowing how many major players evaluated both projects and went with PYTH over LINK. That tells me something. Too many projects have smoke and mirrors metrics that don’t tell me anything. Also, LINK has existing pilots with SWIFT and DTCC. Anyways, I appreciate the links and I’ll read through all of it to see what I think. So thank you for sharing!

Odd_Barracuda9803

Here’s all my research on the 2025 implementation. It’s already been finalized for years that XRP is the upgrade to SWIFT, the global banking system for cross boarder payments and hundreds of Countries are already signed up  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022 https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf https://www.iso20022.org/ https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf Dug up the new financial system structure that will be implemented, first link are cryptocurrencies that are verified to be able to be used with the new iso 20022. Cash will still be available it's only for quicker more efficient payment transfers for less cost. On an investment side of things it's valuable information ahead  https://www.iso20022.org/registration-management-group-member-list List of financial institutions, Ripple being the first Cryptocurrency in the list of cross boarder payments, with the first list provided of the 9 current cryptocurrency technologies will in a sense be like investing in amazon in stocks among others. Even though the worlds not going in the best direction, making a nest egg along the way to witness it can be beneficial with weighing advantages vs disadvantages https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022  https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf  https://www.iso20022.org/  https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf  https://www.iso20022.org/registration-management-group-member-list  https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments

MF_Price

Here's what AI told me: Let's analyze why XRP might not easily reach $10 when considering the total supply of 100 billion tokens. 1. Market Capitalization The total supply of XRP is capped at 100 billion tokens, so if XRP were to reach $10 per token, the total market capitalization would be $1 trillion. For context, as of late 2024, the entire cryptocurrency market is valued around $1 trillion. This means that XRP would need to account for the entire market cap of all cryptocurrencies just to reach $10 per token. For XRP to surpass this, it would require a massive shift in market dynamics, possibly reducing the value of other top cryptocurrencies. 2. Demand & Adoption To reach such a high price, XRP would need an extraordinary increase in demand for its use, especially considering its current utility. XRP's primary use case is cross-border payments, facilitated by Ripple's payment network. While XRP has gained adoption in the financial sector, it still faces competition from other blockchain projects and traditional financial systems like SWIFT. For XRP to sustain a $10 price, global demand would need to increase dramatically. This would require a large-scale shift toward using XRP over other payment systems, something that hasn't been fully realized yet. 3. Competition XRP is not the only player in the blockchain space for cross-border payments. There are competing projects like Stellar (XLM) and Bitcoin (in terms of remittances), as well as traditional banking infrastructure. For XRP to achieve $10, it would need to capture a far larger share of this market, potentially outperforming these competitors. 4. Regulatory Uncertainty XRP has faced significant legal challenges, most notably with the U.S. SEC, which alleged that XRP is a security. Regulatory uncertainties could hinder XRP's widespread adoption and price growth. While Ripple is currently working through these challenges, if the legal outcome is unfavorable, it could create roadblocks for institutional adoption or market participation, which would impact its ability to reach higher prices. 5. Supply Side Considerations While the total supply is fixed at 100 billion, Ripple holds a significant portion (around 50%). This means that Ripple controls a large amount of XRP that is either locked up in escrow or could be gradually released into the market. If Ripple were to release too much of this supply at once, it could depress prices due to the selling pressure created by the increased circulation. 6. Liquidity and Market Dynamics Even though XRP is one of the largest cryptocurrencies by market cap, with a total supply of 100 billion tokens, achieving $10 per token would put extreme pressure on the market’s liquidity. A $1 trillion market cap would require an immense amount of buying and holding from institutional investors, which might be challenging to sustain given the volatility and speculative nature of the crypto market. 7. Price History and Market Sentiment Historically, XRP's price has not approached $10, despite the hype around its utility in financial services. While it reached an all-time high of around $3.80 during the 2017-2018 crypto boom, it hasn't been able to maintain sustained growth toward $10, even with favorable market conditions. Investor sentiment and market cycles are crucial to pricing, and XRP has faced both bullish and bearish cycles without reaching such a price level. Summary: For XRP to reach $10, it would need a $1 trillion market cap, which would likely require: A massive surge in global demand for XRP as a payment solution. Favorable regulatory clarity, allowing XRP to be widely adopted by institutions and consumers. XRP having dominance over competing technologies, something which would be difficult given the competitive blockchain and financial infrastructure landscape. A reduction in supply pressure, meaning Ripple would need to carefully manage the release of its held XRP to avoid flooding the market. In short, while it’s not impossible for XRP to reach $10, it would require extraordinary changes across various dimensions, including adoption, regulation, and competition. What is keeping ripple from using their xrp that is escrow

womb0t

Credit to /u Odd_barracuda9803 "Here’s all my research on the 2025 implementation. It’s already been finalized for years that XRP is the upgrade to SWIFT, the global banking system for cross boarder payments and hundreds of Countries are already signed up  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022 https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf https://www.iso20022.org/ https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf Dug up the new financial system structure that will be implemented, first link are cryptocurrencies that are verified to be able to be used with the new iso 20022. Cash will still be available it's only for quicker more efficient payment transfers for less cost. On an investment side of things it's valuable information ahead  https://www.iso20022.org/registration-management-group-member-list List of financial institutions, Ripple being the first Cryptocurrency in the list of cross boarder payments, with the first list provided of the 9 current cryptocurrency technologies will in a sense be like investing in amazon in stocks among others. Even though the worlds not going in the best direction, making a nest egg along the way to witness it can be beneficial with weighing advantages vs disadvantages https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments  https://www.cryptopolitan.com/iso-20022-compliant-crypto-list/ https://www.swift.com/standards/iso-20022  https://www.swift.com/sites/default/files/documents/swift_paper_iso20022.pdf  https://www.iso20022.org/  https://www.jpmorgan.com/content/dam/jpm/treasury-services/documents/iso-20022-guide.pdf  https://www.iso20022.org/registration-management-group-member-list  https://www.payments.ca/iso-20022-future-payments#:~:text=In%20recent%20months%2C%20ISO%2020022,holds%20promises%20of%20transforming%20payments"

Mountain-Ad326

XRP does not lead anything in international payments. Its all SWIFT and will be for a long tine yet. I work for banks. Ripple were begging us to run a pilot in 2019 and we saw no use for it. You will get another 2 week pump then it will drop like it always does. Take some profits and enjoy them

CaptainRelevant

You’re right! I’m gonna put all my money on PEPE. Dude, there’s hardly any coins with any real world utility yet. BTC failed in its original purpose but has found an unlikely new one, a store of value. ETH leads in smart contracts. XRP leads in payments across international borders. There’s maybe one or two others, but none are actually being utilized in the mainstream yet. The entire market is speculative. If you wait for XRP to succeed as a viable alternative to SWIFT, you’ll miss the investment opportunity altogether. You don’t make money by buying Google after it becomes a threat to Yahoo. You make money by investing in Google when it’s a startup.