Recently, social media buzzed with rumors that Ripple may connect to Fedwire, the real-time payment system run by the U.S. Federal Reserve.
Details on SMQKE's Statement
The claim regarding Ripple's possible compatibility with Fedwire was made by crypto researcher SMQKE, who shared two images on social media. The first image presents data about ECS Fin's IMS Payments system, where it's stated that the platform can work with various messaging standards and payment channels.
Overview of ECS Fin Platform
ECS Fin's IMS Payments platform is designed to operate with different standards including SWIFT, Fedwire, ACH, CHIPS, and ISO 20022. It promises to streamline the full transaction lifecycle, including validation, routing, compliance, settlement, and reporting.
Analysis of Compatibility Rumors
While ECS Fin does mention working with the Federal Reserve, there is no explicit mention of a direct connection between Ripple and Fedwire. A response from a user on social media also confirms that these systems operate independently, and there is no direct evidence for interoperability.
Thus, despite the increasing interest in the potential compatibility between Ripple and Fedwire, the facts point to a lack of basis for such claims.
