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MarkRoberts
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Ripple’s CEO chastises SWIFT’s sluggish and costly payments

Wed Aug 04, 2021 1:30 pm

Ripple CEO Bradley Garlinghouse stated several times publicly in 2019 that the SWIFT system of money transfer was out of date in his opinion.

According to him, only approximately 6% of SWIFT transactions can be completed without the involvement of human operators.

Furthermore, they are more expensive and take much longer than blockchain-based payments, such as those provided by Ripple.

Garlignhouse stated in the same year that collaboration with SWIFT was still a possibility. The traditional money-transfer business, on the other hand, selected the R3 blockchain technology.


https://mycryptoparadise.com/swift-explores-the-market-targeted-by-ripple/
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