Ripple and SWIFT to be Used on One Platform By Swiss Payment Giant IBIS

IBIS Management Changes the Game in the Financial Services Sector. According to IBIS, the platform will allow customers to connect to different banks through one channel and they will also be able to connect to RippleNet.

The SWISSRoute service will serve as a gateway to the SWIFT international payment network. The SWISSRoute service is a cloud-based solution that will allow people to create adapters and connect to various payment networks, traditional and blockchain-based alike. The comfort is second to none. Thanks to this platform, business flows will be automated and streamlined thus improving the interbank connection. IBIS powers the service with standardized proprietary formats and global ISO messages. Part of the announcement was as follows;

“With SWISSRoute you don’t need to acquire or license any of the proprietary SWIFT hardware and software required to connect to their network. Instead, you can leverage our secure cloud-based services. Our infrastructure is compliant with SWIFT’s security and business continuity standards and we manage all of the upgrades so that you can take advantage of all of the latest SWIFT capabilities.”

SWISSRoute was developed in conjunction with Finastra and it uses the Alchemy real-time interface. RippleNet will be the ideal customer for this service. The companies under the RippleNet umbrella all operate in a multi-bank environment so they are looking for modern payment solutions. It’s an out of the box banking technology that hasn’t been tried so far.

  • Swiss Banking Giant Develops a Platform that Combines Ripple and SWIFT 
  • Ripple XRP Bulls Lose Momentum but the Support at $0.30 Holds Steady 

Ripple’s biggest competitor in the financial sector has always been SWIFT. On more than one occasion, Ripple executives have said that they aren’t going to stop trying to revolutionize the financial sector until they take a significant portion of SWIFT’s share in the payment services sector.

Now, a Swiss banking giant is working on a platform that will merge Ripple’s technology with SWIFTS technology to create a more efficient system. The company, IBIS Management Associates Inc, is one of the top financial giants in the country.

Ripple XRP Bulls Lose Momentum but the Support at $0.30 Holds Steady

In other news, the XRP price prediction has changed direction over the last few days. While the bulls were in control of the market for over seven days, they have started losing momentum against the USD. At the time of writing, the price of the XRP token was $0.301226. It is up by 0.04% against the USD and down by 3.20% against Bitcoin BTC. The trading volume over a 24 hour period is $1,852,370,882 and the market capitalization is $13,513,806,554.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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