According to a recent commentary by Robert Pehrson, Head of Products and Business Development at SEB, Ripple may consider the possibility of integrating with SWIFT, which could strengthen the efficacy of international payments.
Ripple's Potential Role in SWIFT
Robert Pehrson expressed his views at the Paris Fintech Forum, where discussions were held on SWIFT gpi's new developments in a Proof of Concept with DLT platform R3. He noted that SWIFT's existing infrastructure, including its governance and regulatory framework, already makes it a strong player in financial services. Pehrson added that enhancing the efficiency of SWIFT's existing network through DLT may be a more practical step than building an entirely new system.
Broader Integration Opportunities
The document also outlines a scenario where Ripple could facilitate real-time transactions not only for companies and banks within a single legal entity but also across additional parties. If Ripple manages to integrate with SWIFT gpi, this could significantly enhance the efficiency of international payments. However, Pehrson mentioned that such a step does not appear to be imminent due to potential challenges with adoption.
Documented Commentary on Ripple and SWIFT
SMQKE highlights the significance of these remarks, noting that Ripple's future may lie in integrating with networks like SWIFT rather than replacing them. The document states: "For Ripple, the future is to be integrated into some other network, like SWIFT." This indicates that Ripple's role in the financial system may be shaped through collaboration with existing infrastructure.
The analysis of public commentary points to the potential for closer integration of Ripple with existing financial systems, which could enrich international payment processes and offer more efficient solutions for their implementation.
