Just In: Ripple partner Santander expands its reach using SWIFT GPI - Global Coin Report
Connect with us

Don't Miss

Just In: Ripple partner Santander expands its reach using SWIFT GPI

Published

on

Ripple
READ LATER - DOWNLOAD THIS POST AS PDF

There is a lot of buzz around Ripple and SWIFT concerning a possible partnership. However, this buzz around them has become more intense as Ripple’s partner, Santander, partnered with SWIFT to launch its services in countries such as Argentina, Poland, Spain, and the United Kingdom. The announcement came in today. The Spanish banking giant also plans to expand its services to further countries in 2019.

It is also important to know that there are high anticipations that Ripple may announce a breathtaking announcement during the forthcoming SIBOS 2018 Conference which is held by SWIFT, and set to take place in Australia.

The event is slated to hold on the 22nd to 25th of October. The main reason for the speculation that Ripple and SWIFT will be partners is since many FinTech companies – including banks – are using SWIFT for global cross-border remittances, and on the other hand, Ripple’s technology is becoming predominant to aid cross-border payments.

As a result of the partnership between Santander and SWIFT, Ripple’s community now see the opportunity that there may be a probable connection between Ripple (XRP) and SWIFT. This can also be attributed to the fact that Santander itself is in close partnership with Ripple, as it created OpenFx, which runs on Ripple’s blockchain protocol.

Santander believes that its partnership with SWIFT will help it deliver “rapid and frictionless cross-border with fast payment tracking.”

Eva Bueno Velayos, the GTB Head of Santander in Spain stated this after the partnership with SWIFT:

For us, SWIFT gpi represents a good opportunity to improve the experience provided to our clients in their international payments, making the process faster and more transparent while simultaneously making our internal processes more efficient. We are looking forward to advancing in the following phases in order to achieve the best possible service in our payments offering.”

Subsequently, there have been lots of reactions in Ripple’s community: A tweet from SparrowHODL – a member of Ripple’s community says:

Straight from the horse’s mouth? Ok so I know there’s a lot of speculation floating around but when SWIFT themselves use a term like “RAPID” as well as the gpi going live with one of Ripple’s partners – the picture is becoming clearer. $xrp $btc #xrpthebase #xrpcommunity.”

Another possible fact for a SWIFT-Ripple partnership is the Temenos T24. It is important to know that Temenos has been in collaboration with SWIFT for FinTech companies. The same Temenos also partnered with Ripple in 2016, in which it listed Ripple as its GPI. And now, what Santander has done is going live on SWIFT GPI, GPI is a thing worth noting here. That means they can use a third-party to offer their services; Ripple could be that one in case of this here.

However, the main question that comes to the mind after Santander’s partnership with SWIFT is if Ripple will partner with SWIFT anytime soon. Or will both companies produce different great technologies for global remittances? Well, time will tell that. But, as things stand, we can expect an official announcement in a couple of weeks.

Ripple’s XRP Price Overview

The crypto-market isn’t in good shape as it is in a huge bearish trend. All cryptocurrencies are in the red. It is important to know that only one cryptocurrency in the top 50 is green, and that’s 0x (ZRX).

Bitcoin which was previously rallying around $6500 dipped to about $6,200, but at the time of writing, BTC is now sustaining at $6,287 after it lost more than 4% of its value in the last 24-hours. On the other hand, Ripple was also caught on the bearish trend and has lost 11.40% of its value. At the time of writing, XRP is priced at $0.4117.

For the global insights every crypto trader must have, apply for Elite membership!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Flickr

Don't Miss

Property Loans for Foreigners in Singapore That You Must Know About

Published

on

property loans for foreigners in Singapore
READ LATER - DOWNLOAD THIS POST AS PDF

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • Continue Reading

Don't Miss

CoinField Launches Sologenic Initial Exchange Offering

Published

on

Sologenic
READ LATER - DOWNLOAD THIS POST AS PDF

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited…

Continue Reading

Don't Miss

Many of the Top Sports Betting Websites for 2020 Can Be Found On Boomtown’s Best Betting Page

Published

on

READ LATER - DOWNLOAD THIS POST AS PDF

Sports betting is one of the widely known types of online gambling. With a large number of sports fans around the world, this type of gambling is one of the most sought after. The problem usually comes from when gamblers try to find the best sites out of the many available ones. Many new sports betting sites come up daily, thus making the selection process even harder. One of the best places to find top betting websites for sports is Boomtown Bingo. This platform doesn’t just give users the best online casino games websites, but they also cover sports betting. As such, boomtown bingo remains a one-stop-shop for everyone who needs the best and the latest online gambling and gaming sites for all types of devices.

Performance

The performance of any website is critical. Users need to find their way around the site easily, and that can be made possible with the site structure and arrangement. Loading time is also essential. A website that always hangs thus pushing the user to refresh every time is no good. These are some of the factors that Boomtown Bingo looks into when selecting the best sites for its users. You can be sure that the new sports betting websites listed on Boomtown’s platform have faster loading time, can be used easily by everyone,…

Continue Reading

Press Release