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

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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.

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Why no one should be using banks

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why no one should be using banks
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If government is the devil, the bank is a demon.

It’s not your money anymore.

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Neteller to Launch a Crypto Exchange

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The way to make sure that the cryptocurrency momentum continues and that cryptocurrency credibility occurs is when big companies begin offering services based around cryptocurrency and other features of blockchain. This was certainly the case when Neteller recently announced it will offer a cryptocurrency exchange service in addition to its digital wallet services. The company announced that the 28 currencies compatible with the fiat wallet were able to buy, sell, and hold cryptocurrencies – including Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, and Litecoin. It makes sense to begin with Bitcoin and Ethereum as they are seen as the originators of what cryptocurrency and blockchain can do and also the future of how blockchain can be used, despite news that Ripple may be set to topple them all. Neteller’s move into cryptocurrency shows it has its sights set on a bright future of cryptocurrency and making it more accessible. But where do they stand now?

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MGO Will Likely Generate Substantial Gains During 2019

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My new year’s resolution is to put the past year behind me and start fresh.  This means to stop worrying about past losses and focus on all the exciting projects that blockchain technology has made possible.  When analyzing new projects, I tend to look for projects that have 2 advantages; growing industry and lack of competition.  Companies with these advantages have always done well in the equity markets and there is no reason to believe they won’t do well in the crypto markets.  MobileGo (MGO) is one such project that will be one of the biggest winners during the next 12 months.

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