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Isn't this what Ripple/XRP is intended for? I always wondered why the banks wouldn't just create and own their own network instead of relying on a 3rd party lik
by thatguyagain 1y ago
Isn't this what Ripple/XRP is intended for? I always wondered why the banks wouldn't just create and own their own network instead of relying on a 3rd party like that.
- csomar 1y agoThat's what SWIFT is. It doesn't settle which is in the banks interest (since they settle the transfers).
- thatguyagain 1y agoYes, for the settlement, sure. But I was referring to this: "Banks see an opportunity for stablecoins to speed up more routine transactions, such as cross-border payments that can take days in the traditional payments system."
- mousetree 1y agoThere is no settlement in Swift itself as it’s not network. Swift is messaging only. Bank settlements would happen later through networks like SEPA or Fedwire. Ripple provides both messaging and settlement with XRP
- tonyhart7 1y agobut if bank moving to certain network, its not is just make it a "new swift" system?? Gas fees would skyrocket and expensive again