Recent research shows that Ripple facilitates compatibility with traditional financial systems such as SWIFT and NACHA.
Integration Opportunities for Ripple
Crypto researcher SMQKE has drawn attention to a set of institutional documents supporting Ripple’s compatibility with SWIFT, NACHA, and the Federal Reserve. These documents suggest that Ripple’s infrastructure is designed to work alongside existing financial systems rather than replace them.
Differences Between SWIFT and Ripple
The documentation illustrates the differences between SWIFT, which handles messaging, and Ripple, which operates as a transaction settlement system. This agrees that both can work alongside each other in the financial sector, increasing efficiency and finality of transactions.
Global Use Prospects for Ripple
The documents also indicate how other financial networks, like NACHA, could utilize Ripple’s protocol to create consistent rules for compliance, dispute resolution, and transaction handling. Ripple is adaptable to international banking systems, including SEPA, and is aligned with Federal Reserve standards.
Thus, Ripple's ability to integrate with existing systems such as SWIFT and NACHA positions XRP as a promising solution for enhancing global payment systems.
