Is it this year? Will XRP fulfill its eternal promise to become a “bank cryptocurrency”? Will XRP technology revolutionize financial institutions?
Perhaps these are some of the questions that XRP community members ask when they hear it Rumors of a possible alliance that Ripple Labs and Swift have returned (Society for World Interbank and Financial Communications, Spanish).
Swift is a global system that enables banks and other financial institutions to safely transmit and receive information about financial transactions, but is known to be slow and expensive.
Founded in 1973, it connects over 11,000 institutions from over 200 countries to identify banks using standardized codes such as BIC (Bank Identifier Code) and to ensure that transactions are fast, secure and efficient.
But let’s go all the way to the topics that bring us to this article. Is there an alliance between Ripple and Swift?
The rumors reroute after publication in X by John Squire, a cryptocurrency market analyst defined as the development of the XRP promoter and Ripple. In his post, he stated: “On April 16th and 21st, they became two of the most important dates in XRP history, and I wouldn’t say it for pure exaggeration.
It is closed on April 16th (that is, today) for Ripple Lab to make a motion aimed at halting lawsuits against the U.S. Securities and Exchange Commission (SEC). The lawsuit may point to the end of a legal dispute that began in December 2020.
As reported by Cryptootics, the then-regulatory body was in charge of Gary Gensler, filed a lawsuit claiming XRP was a value title (safety) Its sale was prohibited because it was not registered.
American justice has determined assets, but It can only be considered as a title value in certain circumstances, such as institutional salesGensler appealed the decision, expanding conflict between the parties.
However, the new author authorities have rejected the request, all indicating that the dispute will end in the short term.
In his publication, Squire interprets the writing as “the end of the case or the beginning of the final chapter,” suggesting that a solution in favor of Ripple can eliminate the legal limitations of US XRP.
“If Ripple wins, and many indications suggest that he has solid debate, XRP could be legally and openly operated in the world’s largest financial markets. Not only is it a legal victory, it’s a global signal, but XRP is no longer a cryptocurrency with legal support, but a digital asset with legal support.”
Meanwhile, Squire explained it. April 21st may be the day the Ripple and Swift alliance was announced.
Analysts show signs that “several influential voices indicate the possibility of a rapid announcement,” highlighting that “it could be an official confirmation that XRP will become part of the global rapid payment infrastructure used by more than 11,000 financial institutions around the world through Ripple.”
He also recalled that a company led by Brad Garlinghouse joined the Interoperability Pilot Program in 2023, led by Swift. “More recently, Swift has published a report on the integration of distributed registration technology (DLT). Ripple has appeared on that list. XRP was part of that conversation,” he said.
He said to end its publication, “Of course, nothing is guaranteed. The rumors aren’t necessarily realised. But if we were in this space enough time, the biggest waves would form long before they broke, and this would feel like the building in front of us.”
so far, Swift did not issue an official statement, and there was no wink or plan to start work with Ripple XRP is much less likely to be incorporated into a system.
However, assuming the contract is getting closer and closer, you will need to read a small print to see if it contains XRP.
The hypothetical scenario is that the company offers Ripplenet technology. This is a network of payments that connect banks and financial institutions to send money economically and securely globally. It should be noted that the platform does not require the use of XRP, but it can be optionally integrated to optimize specific transactions.
Another show of this is that Ripple has signed contracts and projects such as CBDC, but most people don’t need to use XRP.
In summary, despite the association between marketing and these banks and payments, the usefulness of XRP from the banking sector is limited. That’s the reason, The big challenge is to turn it into a “bank cryptocurrency.” And it has a real utility.
Ripple’s focus is on RLUSD
In addition to integrating with banks, the company appears to be prioritizing it to resolve legal issues and promote Ripple USD (RLUSD), a stubrecoin that maintains equality with the US dollar.
As reported by Cryptonoticia, the financial instruments launched in December 2024 and so far have not stood out in the market niche dominating Tether and USDC’s USDT from Circle.
At the time of this publication, There are 11 stub coins worth more than RLUSD:
The fact that we should emphasize is that a stable currency works with the network’s Ethereum and XRP ledger, and its native currency is XRP.
This means that if RLUSD generates more operations on the XRP ledger, it will increase the demand for XRP committee payments. As a result, cryptocurrency prices will also rise.
However, it should not be excluded Two negative scenarios in XRP.
First, RLUSD has not achieved the expected success. Second, stable currency usage is concentrated on Ethereum, which involves greater infrastructure and adoption.
So, if the rumors become true, I’m not 100% sure that XRP prices will go forward “To the moon.”
(tagstotranslate) Cryptocurrency
