This is how XRP will connect to the SWIFT network.๐
โผ๏ธXRP ALREADY HAS MULTIPLE ENTRY POINTS INTO THE SWIFT NETWORK โ HEREโS A LIST OF THE THIRD-PARTY PROVIDERS MAKING IT POSSIBLEโผ๏ธ
Many still ask how XRP could ever reach SWIFTโs 11,000 customers.๐โโ๏ธ
The answer is that Ripple chose the fastest and most efficient path: deploying XRPL technology through several SWIFT connected technology providers. These firms are ISO 20022 compliant, CBPR certified, and integrated with Ripple, enabling XRP usage across the SWIFT network.๐
To understand this, it is important to note that ISO 20022 opens SWIFTโs network to new payment rails and digital asset usage. CBPR (Cross Border Payments and Reporting Plus) is SWIFTโs global initiative to standardize cross border payments using ISO 20022. By aligning to CBPR , services like Ripple can participate in this framework, enabling faster and more efficient cross border settlement.๐
For the first time in history, SWIFT is moving beyond traditional messaging to API based messaging through its new Transaction Management Platform. This upgrade allows blockchain, DLT, and crypto asset transactions to flow natively through the SWIFT network.
This thread presents the XRP enabled entry points into SWIFT ๐งต๐๐จ