Ripple Expands Interledger Protocol to Integrate XRP with SWIFT Network
Ripple is advancing its integration with mainstream finance by connecting its Interledger Protocol (ILP) to the SWIFT network, a critical global payment infrastructure. This move aims to enhance interoperability between traditional and modern financial systems, positioning XRP as a central player in international transactions.
XRP's Potential as a Settlement Standard
- The ILP enables synchronization of separate ledgers without creating new ones, acting as a bridge across various financial systems.
- Ripple's strategy includes integrating ILP with SWIFT to embed XRP within the dominant global payments network.
- This approach aligns with ISO 20022 standards for secure, scalable transactions that integrate smoothly with existing banking systems.
Vision for Financial Inclusion
- XRP is seen as having the potential to drive significant financial inclusion, challenging traditional economic barriers like credit scores.
- Proponents believe XRP can facilitate a more equitable financial landscape, promoting broader accessibility and opportunity.
