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A Glimpse at Ripple, R3, and SWIFT in Building Robust DLT Platform – Trios to Transform Global Payment Infrastructure

Ripple has been steadily building an ecosystem, that appears to be a niche in the world of interbank payments. The Ripple company recently announced its collaboration with nearly about 200 clients and foresaw a 350 pct surge in the client base transacting live payments. The company's ability to transact overseas payments swiftly and efficiently is observed as a competitive edge, as a result, banks’ experimentation, if not, complete transformation from its current Society of Worldwide Interbank Financial Telecommunications (SWIFT) system to DLT system.

The gamut of financial services has been targeted market by the US-based start-up with two projects: xCurrent a DLT settlement system for international transactions as well as xRapid, which is an almost similar product, but with the utilization of XRP coins in the facilitation process.

Ripple is steadily building itself a niche in the world of interbank payments, says CNBC. The company recently announced it had signed up 200 customers and saw a 350 pct increase in the number of customers sending live payments over the last year.

While the announcement of the SWIFT’s collaboration with R3 has been buzzing news. Yes, there has been the news that SWIFT, the global messaging transmission technology to settle overseas payments, who provides services to numerous financial institutions across the globe, likely to trial Corda, R3's blockchain solution which is at the proof-of-concept stage.

SWIFT’s collaboration with tech companies who develops DLT has been keenly observed by the entire crypto community. The attempt of establishing an interface between SWIFT's overseas payments gateway with R3's Corda Settler platform improves the processing and continuous tracking of the payment cycle. 

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -24 levels (which is mildly bearish), while hourly USD spot index was at -6 (neutral) while articulating (at 10:35 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex

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