The Society for Worldwide Interbank Financial Telecommunication, more commonly known as SWIFT, has denied the rumors about the integration of Ripple's software solutions with their technology.
With SWIFT updating its protocol standards, it is rumored that the Ripple technology will be incorporated into the updated and popular version among Ripple supporters. These entries suggested that the updated global payment platform SWIFT GPI would use RippleNet and xRapid, an XRP-based payment solution, for cross-border payments.
Apparently, the rumors were sparked by speculation after Ripple attended the Swift Sibos conference in Sydney, Australia. People started reading in other related stories, such as the news that a former SWIFT member joined the Ripple team and previous SWIFT comments. As a result, Ripple fans optimistically hypothesized that Swift and Ripple were preparing to announce a collaborative effort.
1. Do you have a quick partnership with Ripple? The Marcus preacher, who is on the board, leaves hsbc to work with the ripple. In addition, recently, xborder payments can be established recently in a few seconds, regardless of the 30 minutes indicated in the last image, THREAD $ XRP $ xrpcommunity $ BTC pic.twitter.com/edKGO6oxGA
– Sparrow (@SparrowHodl) October 7, 2018
However, the buzz was quickly clouded when a SWIFT spokeswoman denied the rumors circulating in an interview with the finance mogul:
"I'm not sure where these rumors are coming from, but the imminent release of standards … is totally unrelated to RippleNet, its main purpose is to ensure that all payments include a tracking reference (UETR, Reference single end-to-end transaction) that will allow banks to track their end-to-end gpi payments in real time. "
However, the value of XRP has increased considerably in the last week, increasing by around 20 percent. The token now stands at $ 0.565 each.