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>>The €484 trillion TARGET2 system and its potential connection with Ripple (XRP).

The €484 trillion TARGET2 system and its potential connection with Ripple (XRP).

crypthub

3 days ago

TARGET2's Dominance in European Payments

TARGET2 is Europe’s largest payment infrastructure, handling a substantial portion of euro payments. The system processed approximately €484.3 trillion in the latest reporting period, maintaining its role as a central settlement backbone. Its traffic increased by 8.7% and turnover by 4%, reflecting its critical function. These figures highlight the immense scale and activity within the TARGET2 system.

Ripple and the TAS Network Gateway

Researcher SMQKE suggests Ripple technology is linked to TARGET2 via the TAS Network Gateway. TAS Group’s documentation indicates its gateway supports multiple protocols, including blockchain technologies like Ripple's. This connection raises questions about the potential integration of Ripple within the established TARGET2 infrastructure.

Eurosystem's Distributed Ledger Initiatives

The Eurosystem plans to integrate distributed ledger technology (DLT) into TARGET systems, targeting 2026 for rollout. Ripple is speculated to potentially play a key role in processing transactions within this new DLT-based framework. The ECB's Pontes initiative aims to test interoperability between DLT networks and TARGET services.

Speculative Connections and Future Developments

While the immense scale of TARGET2 and the ECB’s DLT plans are confirmed, direct Ripple integration remains unconfirmed by official sources. Researcher SMQKE's assertions blend documented facts with interpretation, creating a point of interest for analysts. Definitive confirmation is pending official statements from involved parties.