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SWIFT CIO Questions Ripple and XRP’s Compliance with Global Banking Standards

The executive raised concerns over Ripple and its native token XRP, questioning their readiness to meet international banking requirements.

XRP

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Terms & Concepts
  • SWIFT: The Society for Worldwide Interbank Financial Telecommunication, a global network that enables secure messaging and financial transactions between banks.
  • Ripple: A blockchain-based payment company focused on facilitating fast, low-cost cross-border transactions, often associated with its native token XRP.
  • XRP: The native cryptocurrency of the Ripple network, used as a bridge currency for international payments and liquidity provision.