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>>Patrick Bet-David discusses the possibility of XRP potentially replacing SWIFT.

Patrick Bet-David discusses the possibility of XRP potentially replacing SWIFT.

crypthub

2 days ago

Outdated Payment Systems

The discussion highlighted inefficiencies within current financial systems, including the Automated Clearing House (ACH) and traditional wire transfers. SWIFT, a key messaging platform, was described as an antiquated system that slows down international money movement. These limitations contribute to slow and costly international transactions.

Ripple and XRP's Potential

Ripple's technology, utilizing XRP, is presented as a potential solution for faster and cheaper cross-border payments. Recent surges in investment demonstrate increasing interest in Ripple and its native token. The conversations centered on XRP's ability to provide instant settlements at reduced costs.

Industry Discussion and Competition

Patrick Bet-David acknowledged a growing industry consensus that Ripple's system could replace SWIFT. The competition to modernize financial networks is expanding, with other blockchain projects entering the space. This wider movement shows a shift in the possibility of blockchain-based solutions.