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Ripple Labs Inc., one of Silicon Valley's most valuable start-ups, and the global Swift payment infrastructure – will compete with the 1TC conference in Rust, Germany.
Marjan Delatinne – Global banking manager at Ripple and Wim Raymaekers – the head of global banking at Swift will give his two cents on the future of cross-border payments. The two are perhaps unknown outside the technological circles, but they are explicit figures.
According to Daily Hodl, the organizers of the event have confirmed that the two giants of international payments that were 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?" Consolidated banking structures will be overturned on their heads – SWIFT and Ripple have a look at the future of global transfers of money and propose that their specific concepts are meant to replace all other approaches. "How will the future be?"
The CEO and founder of the Bellin corporate treasury management company – Martin Bellin – will moderate the debate – to be held in February.
Ripple wants to overtake Swift
Ripple, (XRP) has intensified its efforts to replace Swift as a de facto network for international payments. While Swift supports the trillion dollar movement on a daily basis, it is extremely slow, costly and inefficient. Ripple, on the other hand, claims to allow immediate, secure and almost free cross-border transactions. The company uses its native XRP token as a proxy for customers wishing to convert fiat money. And, it has already collaborated with dozens of financial institutions around the world including PNC, American Express and Standard Chartered.
According to Ripple's managing director Brad Garlinghouse, Ripple is trying to completely eliminate Swift from the remittance market and dominate the international payment industry. "What we are doing and doing day by day is, indeed, taking control of Swift,"He said.
