Ripple CEO Unleashes the Signs: XRP Is Here to Replace SWIFT
Main Idea
Ripple CEO Brad Garlinghouse argues that XRP is positioned to replace SWIFT due to its inefficiencies, highlighting XRP's potential to improve cross-border payments by reducing errors and freeing trapped liquidity.
Key Points
1. Ripple CEO Brad Garlinghouse criticizes SWIFT's 6% error rate, comparing it unfavorably to modern technology standards.
2. XRP aims to solve the problem of $10 trillion in trapped liquidity in the current payment infrastructure, enabling more productive use of capital.
3. Garlinghouse predicts XRP could capture up to 14% of SWIFT's transaction volume within five years by addressing SWIFT's inefficiencies and errors.
4. The article suggests that XRP could provide a faster, cheaper, and more efficient alternative to SWIFT, similar to how SWIFT replaced Telex in 1977.
Description
The challenges of cross-border payments are not new. SWIFT has its inefficiencies. This gives Ripple an avenue to fill the gaps using efficient digital tools such as XRP. In a recent video shared by crypto commentator Xaif (@Xaif_Crypto), Ripple CEO Brad Garlinghouse criticized the persistent issues within SWIFT’s infrastructure, highlighting inefficiencies that impact both speed and cost in global transactions. Garlinghouse presented a striking comparison between SWIFT and modern technology exp...
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