Recent statements from a Ripple executive shed new light on the competition with SWIFT. The focus on innovation and efficiency highlights the company's strategic direction.
Ripple's New Payment Strategy
In a video shared by Crypto Eri, Eric van Miltenburg, Senior Vice President of Strategic Initiatives at Ripple, referred to the Ripple product as a 'SWIFT update or replacement.' This statement emphasizes Ripple's intent not just to improve existing technologies but to provide core infrastructure in the form of a messaging system.
Impact on XRP and SWIFT
By stating that Ripple’s product could serve as an 'update or replacement' for SWIFT, van Miltenburg confirmed the absence of a partnership between Ripple and SWIFT. This implies that Ripple aims to offer a full-scale alternative that addresses key shortcomings of current systems—namely, speed, cost, and transparency.
Ripple's Strategic Direction
By sharing the clip, Crypto Eri reinforced Ripple's original messaging and strategic direction. She utilized van Miltenburg’s words to refocus the narrative, emphasizing that Ripple is building infrastructure designed to transform global payments.
Ripple's statements about its products and development process reflect the company’s ambition to enhance international payment systems, which could significantly change the landscape of financial technology.
