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Dutch_ins

European Central Bank integrates RippleNet on 22-11-2021

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4 minutes ago, Dutch_ins said:

RippleNet with it’s xCurrent (4.0) is one of those NSP’s! (And to be clear, it really is the most obvious choice for each EU-bank to choose, compared to GPI).

Hey great work finding this . Could you tell me where you found that ripplenet is an avaible choice for an NSP? To my information the list of avaible choices will be made official end 2019 -not now.  

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3 minutes ago, Talinos said:

Hey great work finding this . Could you tell me where you found that ripplenet is an avaible choice for an NSP? To my information the list of avaible choices will be made official end 2019 -not now.  

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It was once communicated by the TAS group a few months ago (TAS Network Gateway 3.0 architecture).

DmRDIQhXgAE9wdJ.jpg

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24 minutes ago, cryptoxrp said:

Excellent find. This will give all NSP’s a fair chance. And we know that Ripple’s DLT (with XRP) will be ‘in the lead’.

Really massive volumes now only to be processed with swift as NSP currently. 432.508 BILLION in 2018. We hear "we're still early" a lot, but I feel like an unborn when I look at those numbers and the possible share in tx volume.

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Edit; what does 432,508 billion in processed value look like? Hmmm... 432,508,000,000,000,- 

It personally means for me that I will hodl at least until we get to the year 2022. I think hodling through a bull market will be much more difficult than the bear market we have/had.

Edited by Dutch_ins
Edt

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Quote

https://www.ecb.europa.eu/pub/targetar/html/ecb.targetar2018.en.html#toc27

The prospect of Brexit has prompted British institutions that currently access TARGET2 directly via a euro area NCB (i.e. remote access) to find alternative ways to connect. At the end of 2018, some 39 UK-based participants had direct access to seven national component systems of TARGET2. As part of their preparation for Brexit, these institutions were presented with a number of options with respect to their TARGET2 participation, as follows:

Use or establish a subsidiary in the EEA from which they can conduct their euro payment business. From a TARGET2 perspective, those credit institutions would be seen as regular banks, established in a euro area country, that hold an account with a euro area NCB.

Use or establish a branch in the EEA from which they can conduct their euro payment business. The direct participation of such entities would nevertheless require the provision of a conclusive country opinion.

Terminate their direct participation in TARGET2 and have recourse to the service of another direct participant for sending or receiving euro payments on their behalf (i.e. becoming an addressable BIC holder). In contrast to direct access, any of the direct participant’s customers can become an addressable BIC holder as there are no specific territorial or administrable criteria.

The most significant UK-based participants have meanwhile confirmed that they have taken all necessary measures to maintain their access to TARGET2, which will preserve the smooth functioning of TARGET2 under any Brexit scenario.

Very interesting. BIC (Business Identifier Code) is the same as SWIFT codes. Really? Going back to that nightmare? Did someone say; on demand liquidity?

Edited by mandelbaum

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6 minutes ago, ZeeperCreeper said:

Yes.

Will there be a run on Ripple?

"Ehmm I'm not sure what that would look like but ehmmm'.

Yes they will eventually use XRP. And even if they don't they will have the option to do so through a third party liquidity provider / xRapid partner. I think it is inevitable, but when the regulation is in place, it will need to be 'all at once', to avoid unfair competition.

Edited by Dutch_ins

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Great post!! XRPchat should be the premium place for XRP related info and contribution like yours is what can make this happen. Keep on posting I love it!!!

I've been part of this since early 2014. The reason I got in was Ripple's strategy and how they plan on building an ecosystem for XRP. So far they have pretty much done everything I assumed they would be doing. So I plan hodling through the next bullrun and until we see a well established ecosystem.

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2 hours ago, Dutch_ins said:

The ECB (European Central Bank) released an annual report on Target2, the RTGS system for all European banks where they settle all payments in central bank money. The ECB published it about two hours ago and it can be found here: https://t.co/GLJNtzrR19

The timeline for banks with all the milestones can be found here; https://t.co/tBB9WoDswF

The big bang approach requires that all national central banks and their communities are prepared to migrate on time.

All banks in Europe, will all be, at the same time, able to use XRP for domestic and international settlement of payments and securities within Europe, but also across other RTGS systems like Japan’s or the Federal Reserve’s.

It means also the migration of TARGET2 (payments) with TS2 (securities) and TIPS (instant settlement) into one gateway for al European banks.

All banks have to be signed with a contract to their selected Network Service Provider of choice BEFORE July 2020.

RippleNet with it’s xCurrent (4.0) is one of those NSP’s! (And to be clear, it really is the most obvious choice for each EU-bank to choose, compared to GPI).

The new European RTGS system with integration to multiple NSP’s (like RippleNet for instance, currently Swift is the ONLY integrated NSP) will go live, with a “big bang migration” (as they like to call it themselves) in the whole of the EU on November 22, 2021.

Are you kidding me? What does this mean 

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1 hour ago, Dutch_ins said:

Really massive volumes now only to be processed with swift as NSP currently. 432.508 BILLION in 2018. We hear "we're still early" a lot, but I feel like an unborn when I look at those numbers and the possible share in tx volume.

 
Swift is losing ground it seems
 
Edited by VanHasen

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