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SWIFT Approaching Ripple (XRP) Speeds In Latest Cross-Border Payment Trial


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Great article, but recycled old news. SwiftGPI mentioned at it's release that it could speed up transactions varying from mere seconds to multiple hours. This example shows the seconds. Now some ex

https://www.instapay.today/article/swift-uses-ripple-with-successful-instant-cross-border-trials-between-asia-and-europe/ "A successful trial of instant cross-border transfers has been carried out by

And it’s like  anyone mentioning “ must be XRP” you’re upset.  Take a break ( second time advising this: being obsessed is not good for your health). 

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This btw surprises me on the Swift website:  https://www.swift.com/news-events/press-releases/swift-sees-success-with-global-instant-cross-border-payments-with-singapore_s-fast

The successful trial which involved 17 banks across seven countries – Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand – saw payments between all continents settle within 25 seconds

I did not know GPI could settle. Using XRP, like the code shows, they could however.

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2 hours ago, Caracappa said:

https://www.instapay.today/article/swift-uses-ripple-with-successful-instant-cross-border-trials-between-asia-and-europe/

"A successful trial of instant cross-border transfers has been carried out by SWIFT using Ripple’s payment systems. Instant transfers amongst 17 banks based in Australia, China, Canada, Luxembourg, The Netherlands, Singapore, and Thailand have been completed with the fastest transaction taking just 13 seconds and the longest taking only 25 seconds."

/The edited the website header to
"
SWIFT competes with Ripple with successful instant cross-border trials"

So it did not use Ripple, or they spoke too early as Swift using Ripple was not to be mentioned yet forcing them to change the title.


 

Interesting. Google search results still reflect the cached version of the initial post:
150627207_Schermafbeelding2019-07-23om16_41_58.png.50660f75d3b245eb110f2cbed0cf8c80.png

 

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4 minutes ago, 2ndtimearound said:

So someone at Instapay messed up and had to change because it was false information, or someone at Instapay messed up and had to change because of NDA...

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Hehe - they've still messed up....go to the page : https://www.instapay.today/article/swift-competes-with-ripple-with-successful-instant-cross-border-trials-between-asia-and-europe/

Now click "view source" in your browser.

The META Description still reads:-

<meta name="description" content="A successful trial of instant cross-border transfers has been carried out by SWIFT using Ripple&#039;s payment systems."/>

WOW!!!

 

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So this is very very big news...!!!!

According to crypthawk, trials have been taking place since January.

According to SWIFT themselves:- https://www.swift.com/news-events/press-releases/swift-sees-success-with-global-instant-cross-border-payments-with-singapore_s-fast

.....

Quote

The successful trial which involved 17 banks across seven countries – Australia, China, Canada, Luxembourg, The Netherlands, Singapore and Thailand – saw payments between all continents settle within 25 seconds; the fastest in just 13 seconds.

Only XRP can provide that quick of a settlement.   Nostro/vostro would take longer than that - from 30 mins to 24 hours with GPI...unless they somehow created a faster way to use Nostro/Vostro. 

Edited by 2ndtimearound
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