On the sidelines of the Singapore Fintech Festival, Brad Garlinghouse, the CEO of Ripple, answered questions from the Bloomberg media. The leader particularly praised the merits of the XRP and denied the rumors of a partnership between his company and the Swift system.
Ripple and Swift
Mr. Garlinghouse spoke of rumors of a partnership between Ripple and the Swift interbank system:
“There have been many rumors, and I hesitate to comment on rumors … I think what we do on a daily basis is to take over Swift. We have already registered the arrival of more than 100 banks in our network. Some of the major banks, which already use Swift, have turned to the technology developed by Ripple.
In particular, he explains that Ripple allowed a money transfer company to reduce its fees from $ 20 to only $ 2 per transaction.
The leader does not exclude a partnership with the Swift system:
“We want banks to succeed in this new world order, and take advantage of these new technologies. If we could do this with Swift, it would be a very good thing. “
The XRP “corresponds to very real use cases”
Ripple’s CEO also spoke about the recent performance of XRP, the digital asset used on the network for cross-border transactions. He believes that the rise of his course is justified by its usefulness:
“I think one of the reasons for XRP’s good performance is that investors realize that they correspond to real-life use cases. He comes to solve a real problem.
“It’s 1,000 times faster than Bitcoin, and it costs 1,000 times less to make those deals. I think the market is reacting to this reality. “
The leader also commented on the arrival of Wall Street giants, such as ICE or Fidelity, on crypto markets. He believes that this trend should continue:
“During the last quarter, we announced that we had measured a record proportion of institutional investors among the players who decided to buy XRP. I think this phenomenon is about to last. “