Ripple and SWIFT met in Paris on discussing cross-border transfers

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CEO Ripple Delirium Arlinghaus and the outgoing CEO of SWIFT, Gottfried, Leibbrandt, will meet at the conference of Paris Fintech Forum, which will take place on 29 and 30 January 2019 in the Place de la Bourse in Paris to make presentations.

Two participants of the international forum will discuss the prospects in the sector of remittances in relevant thematic discussion: “Let’s send money”.

Paris Fintech Forum is an annual event organized by Altéir with the support of various firms. In 2017 he received the support of over 60 international partners and brought together more than 2,600 participants from 72 countries.

At the upcoming fourth Paris forum is expected the presence of more than 240 executives of banks, insurance companies, telecommunication companies, regulators and representatives of the FINTECH industry.

It is expected that the events will be head of the IMF Christine Lagarde, who will speak on “the Future of Finance in the company Fintech: new opportunities, new risks, new challenges”. This year will vystupit more than 220 international speakers.

Ripple and SWIFT: associates or competitors?

As you know, the Ripple blockchain technology and SWIFT are used in the financial industry for cross-border remittances.

Many financial institutions, especially large banks around the world are currently implementing cross-border payments on the basis of the Ripple blockchain for instant transfers as payment system SWIFT can’t provide such speed. In November 2018 Garlinghouse in an interview with Bloomberg TV said that many customers SWIFT believe that the blockchain has tremendous prospects. According to Garlinghouse, not less than 100 banks connected to SWIFT, is now ready to use the powerful tool of the blockchain, Ripple, developed for cross-border remittances and digital currencies and block networks will play a prominent role in the banking sector.

However, in a recent interview, SWIFT representatives said that they don’t consider blockchain as a convenient solution for correspondent banks. Noting that over 100 of their major customers do not agree to use it in their work.

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Tags: SWIFT Ripple

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