Taking place in February, Ripple Labs Inc., one of Silicon Valley’s most valuable start-ups, and global payment infrastructure Swift – will go head-to-head at the 1TC Conference in Rust, Germany.
The event organizers confirmed that the two international payments giants which have been at war with each other would discuss the following: “How will technology affect our daily lives as treasurers, with the banking sector challenged by new concepts and ideas? Are established banking structures going to be turned on their head? SWIFT and Ripple take a look at the future of global money transfers and propose that their specific concepts are set to replace all other approaches. What will the future look like?” Ripple,(XRP) has been intensifying its efforts to replace Swift as the de facto network for international payments. While Swift underpins the movement of trillion of dollars on a daily basis, it is extremely slow, expensive and inefficient. Ripple, on the other hand, claims to enable instant, secure and almost free cross-border transactions. The company uses its native token XRP as a proxy for customers looking to convert fiat money. And, it has already partnered with dozens of financial institutions worldwide including PNC, American Express and Standard Chartered.
Which payment solution is better, Swift or Ripple?
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