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Swell summary for the XRP community

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Slides from https://beetech.global/en/ @Swell (see also https://www.ripple.com/insights/features/faster-cheaper-remittances-from-brazil-power-growth-for-one-small-business-in-portugal/) make you think... :)

Thx @LeonidasH



and this one


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Thank you for providing this info!

So, we're always talking about banks in these chats and whether or not they'll work with ripple - I thought it'd be an interesting exercise to see which of the top 10 biggest (by assets) banks in the world attended. Please note, while this info is for 2019, I've seen some variance in the top 10 lists throughout the interwebs (and please correct me if I'm wrong, I may have missed a subsidiary or an acronym for the bank name).

Here's what I got:

10. Mitsubishi UFJ, Japan — $146 billion        : aka MUFG, attended
9. HSBC Holdings, UK — $147 billion            : did not attend
8. Citigroup, US — $158 billion                : subsidiary attended (Citibank)
7. Wells Fargo, US — $168 billion            : did not attend
6. Bank of America, US — $189 billion            : did not attend
5. JPMorgan Chase, US — $209 billion            : did not attend
4. Bank of China, China — $230                : did not attend
3. Agricultural Bank of China, China — $243 billion    : did not attend
2. China Construction Bank, China — $287 billion    : did not attend
1. ICBC, China — $338 billion                : did not attend

First thing's first - today I learned that the four biggest banks in the world are Chinese banks! I had no idea, but that was a fun little nugget of info. 

In any case, it's no surprise that Mitsubishi attended considering Ripple's presence in Japan; nothing to see here folks! However, it is cool to see that we have an North American bank attending who is in the top 10. In the trend of 'smallest comes first for competitive advantage' it's no surprise to me that Citibank is doing this while Wells Fargo, BoA & JPMorgan/Chase sit on their hands. Finally, I think it's a bit strange (and maybe telling) that none of the Chinese banks in the top 10 even attended despite the event occurring in Singapore! I really don't know what to say here other than it's possible China is looking into its own solution and simply isn't interested (I've heard rumblings of this elsewhere).

All in all, I can't say I'm too surprised though we should keep in mind this breakdown could amount to nothing as attendance at a function isn't necessarily indicative of adoption or interest (eg. Some interested parties haven't felt the need to attend as they're already in talks with Ripple).

Edited by RootSilent
Changing bolding to fix
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On 11/11/2019 at 9:53 PM, XRPboi said:


^This image. What does #9 mean when it says "100% integrated with nostro accounts?

They have their own end2end platform with proprietary architecture. They want you to have "freedom", either bullet 9 or bullet 11. You can do it the old way (SWIFT) or new way (ODL). For more see their front page https://beetech.global/en/ and https://ripple.com/insights/swell-2019-beetech-is-saving-customers-more-than-14-million-in-transaction-fees-with-ripplenet/

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