🚨NO
#RIPPLE or
#XRP or
#XRPL ARE NOT HERE TO REPLACE THE CORRESPONDENT BANKS 🚨
#Ripple is not a bank, maybe one day it will be, I have no opinion on that at the moment, but
#Ripple sells software designed to integrate legacy financial systems with
#Ripple.
#Ripple's most widely used product is
#xCurrent, software that allows
#Ripple to work with a bank's existing infrastructure to settle payments quickly.
In this case, they still have to use a CORRESPONDENT BANK. But instead of simply using
#Swift,
#Ripple's software sends the message. So the CORRESPONDENT BANKS will keep existing and
#Ripple or
#XRP or
#XRPL will never replace the correspondent banks.
That is not the purpose and mission of
#Ripple and it doesn't make sense.
But
#Ripple will give another access to financial institutions to pay faster and save money without going through the correspondent banks which is
#XRP.
So
#Ripple is not a threat, on the contrary it is a boost for all banking systems.
Like
#Temenos - Temenos T24 (now Transact) is the world's most widely used digital core-banking solution across retail, corporate, treasury, wealth, and payments, with over 1000 banks in 150 countries using its cloud-native agnostic technology to create unparalleled customer value.
By fully integrating
#Ripple blockchain technology into Temenos T24 - by using the Bluzelle Altitude Gateway - a new standard for bank-to-bank settlements can be created. There is a growing demand for faster settlement procedures, preferably in real-time, and the Ripple protocol provides financial institutions with the technology to realize this potential. Directly or indirectly
#Ripple is there for the global banking system.