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LeonidasH

Citi experimented with Ripple

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@LeonidasH  Brilliant summary - thank you.

Best to read the whole thing - some extacts:

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Citigroup Inc. or Citi is an American multinational investment bank and financial services corporation headquartered in New York City.

Citigroup is ranked 3rd on the list of largest banks in the United States and, alongside JPMorgan Chase, Bank of America, and Wells Fargo, it is one of the Big Four banks of the United States. It is ranked 30th on the Fortune 500 as of 2019. Citigroup has over 200 million customer accounts, does business in more than 160 countries and has 214,000 employees.

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.......Citi has indeed experimented with Ripple with an aim of using Ripple for cross border payments.

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........This opinion was also reflected in Citi’s report “Bank of the Future”, published in March 2018. In this report, it is mentioned that “the toughest hurdle Ripple faces is getting banks to adopt their technology and consequently build a network, which existing players (SWIFT) already have.

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3 minutes ago, XRP-JAG said:

I love this... kind of reminds me of some random MP on TV who's just been caught out in a old photo smoking a joint back at Uni.

Hehe,  I hadn’t seen it that way till you said this.  Now it’s stuck in my head.  :) 

What we need is for some enterprising pusher to give them a free snort of ODL.   :JC_doubleup:

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@LeonidasH perhaps interesting for someone who seems to keep track of everything Ripple/XRP related:

https://twitter.com/AinoLaadne

Recent speculative activity: nubi (paypal related, same day had 'pp-receiver' subdomain activated), currencybird, sotados, transferdirecto, SAP, TCSX (Tata Consultancy Services?), North Bank BCA, b&t corretora, elkapp

Also some recent annual reports that contains fresh references to Ripple. FIS integrates Ripple stuff for example (FIS actually doing implementation which is quite cool I think), bacflorida etc

Edited by mike91

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Interesting. Thanks.  I do recall an interview that Brad G gave a few years ago in which he basically said that of all the banks to be onboarded, “Citi will be the last.”  Maybe his comment was a reference to this historical “experimentation.”  

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5 hours ago, susli said:

So both Western Union and Citi messed around with Ripple and both did not really like it.

Back in 2015/2016, several large banks experimented with Ripple. The bank I use tried it as well. Right now, its still using SWIFT. Not sure if its GPI or not.

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