Ripple’s SEC battle is over: Time to challenge SWIFT?
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Ripple is done fighting the SEC, meaning it can focus on its original goal: challenging SWIFT, the world’s money transfer system.
Ripple has finally finished its legal battle against the US Securities and Exchange Commission, bringing legal clarity to its underlying coin, XRP (XRP). Now observers are asking whether XRP can finally focus on providing a viable alternative to SWIFT.
The Society for Worldwide Interbank Financial Telecommunication (SWIFT) has been the backbone of international money transfers since its founding in 1973. However, for several years, critics have said that the system is outdated.
Many in the blockchain industry, including Ripple CEO Brad Garlinghouse, argue that blockchain technology provides higher throughput and better transparency, making it a superior alternative to SWIFT.
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