The Speculation that went through in the previous days that RippleNet and SWIFT were joining hands to integrate Ripple’s products such as XRapid which was the prime reason for Ripple XRP to cross Ethereum in terms of market capitalization was actually fake news and just rumors.
SWIFT denies its partnership with RippleNet
According to Finance Magnates, the SWIFT payments network denied that the upcoming upgrades in the system have anything related to RippleNet.
“I’m not sure where those rumors are coming from but the upcoming standards release … is entirely unrelated to RippleNet.”
Had the hypothesis been valid, such an association could conceivably have seen SWIFT significantly advantage from the RippleNet, particularly concerning the transactional speed. While RippleNet claims it can course “payments effectively and use instant settlement for transactions within seconds,” SWIFT says that even with the update, just half of the Quick GPI payment is credited in under 30 minutes.