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SWIFT Satisfied with Ripple’s Speeds and Low Cost after a Series of Tests

callum by callum
October 19, 2019
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Crypto Magazine Crypto Eris is reporting that SWIFT has been doing a series of tests on Ripple, and that it’s satisfied with its speed and low cost. This is definitely some great news for Ripple investors and fans around the world. According to the report, SWIFT is actually looking at Ripple as a possible option in settling payments. Despite these promising tests, SWIFT still believes that Ripple is not yet ready for the mainstream market.

Well, as you can imagine, there are of course many analysts out there who don’t believe so. They argue that Ripple has shown, in many fronts, that it has grown to a respectable coin and integration into mainstream payment systems is inevitable. Besides, if indeed Swift’s tests showed Ripple to be a low cost and fast way to settle payments, it would seem the altcoin has fulfilled two vital criteria.

The only challenge right now is that XRP liquidity is not good enough. This means that banks are not comfortable pushing billions of payments through it. The good news is that this liquidity has been growing and it’s only a matter of time before it hits the acceptable thresholds. This might, in fact, happen sooner than anticipated.

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XRP News – Keeping You Up To Date With All Things XRP & Ripple

In the rapidly evolving world of digital finance, XRP stands out as a pioneering force, reshaping the landscape of cryptocurrency and blockchain technology. As a core product of Ripple Labs, XRP is not just a digital currency; it’s a breakthrough in how we perceive and engage with global financial transactions. This article delves into the essence of XRP, exploring its distinctive features and the reasons behind its growing popularity.

Unmatched Transaction Speed

One of the most compelling attributes of XRP is its unparalleled transaction speed. In a world where traditional banking can take days to process cross-border payments, XRP offers a stark contrast with its ability to settle transactions in mere seconds. This efficiency is a game-changer for both individuals and businesses, ensuring that funds are transferred quickly and seamlessly around the globe.

Low Transaction Costs

Another significant advantage of XRP is its incredibly low transaction fees. Compared to other major cryptocurrencies and traditional banking methods, XRP stands out for its cost-effectiveness. This feature makes it an attractive option for micropayments and regular international transfers, offering a more affordable solution for everyday transactions.

Scalability and Sustainability

Scalability is a critical factor in the cryptocurrency world, and XRP excels in this aspect. Designed to handle a large volume of transactions without compromising speed or cost, XRP is well-equipped to meet the demands of a growing digital economy. Additionally, its consensus protocol is less energy-intensive than the traditional proof-of-work used by many cryptocurrencies, making XRP a more environmentally sustainable choice.

Broadening Financial Access

XRP is not just a tool for efficient transactions; it’s a catalyst for financial inclusion. By simplifying and reducing the cost of cross-border payments, XRP has the potential to open up global markets to individuals and businesses who previously found these transactions prohibitively expensive or complex. This democratization of financial services is a cornerstone of XRP’s vision.

The Ripple Effect

Ripple Labs, the company behind XRP, is continually expanding its partnerships with financial institutions worldwide. These collaborations are not only a testament to the reliability and practicality of XRP but also a driver for its adoption in mainstream finance. As more banks and payment providers integrate XRP into their systems, its impact and relevance continue to grow.

A Community of Innovators

The XRP community is a vibrant and dynamic force, comprising developers, entrepreneurs, and enthusiasts. This community is at the forefront of exploring new use cases for XRP, pushing the boundaries of what’s possible in the realms of digital payments and blockchain technology.

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