IBIS Banking Giant Connects Ripple And SWIFT: Report

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The IBIS Banking giant from Switzerland has just connected Ripple and Swift on one financial platform according to the latest announcement that we have in our latest Ripple XRP news.

The IBIS Banking giant recently announced that it now allows customers to connect to RippleNET, the payment technology company so they can access the international payment network SWIFT via the SwissRoute services by IBIS. The cloud-based infrastructure facilitates the development of the “adapters” by linking specific payment networks to the conventional financial systems and all consumers can provide connections in a common portal to other financial institutions. This program eases up the automates market flows and improves the interbank connection. The software uses national structured ISO and MT communications:

xrp/usd
Image source TradingView XRP/USD

“With SWISSRoute you don’t need to acquire or license any of the proprietary SWIFT hardware and software required to connect to their network. Instead, you can leverage our secure cloud-based services. Our infrastructure is compliant with SWIFT’s security and business continuity standards and we manage all of the upgrades so that you can take advantage of all of the latest SWIFT capabilities.”

IBIS claimed that the businesses that are operating in a multibank world require a “digital payment system” which is the perfect client for the use of the new converter with RippleNET. The “pockets” on one network, IBIS announced that the customers will connect to Ripple and SWIFT as IBIS reported that it has unlimited banking options for their customers. Also, everyone that uses SwiftRoute will accept payments using RippleNET and the banking interface.

Swift

All of the clients will get a cross-border payment option which is stable and pretty straightforward. The unified API for al return links and a network of worldwide banks with rules and norms as well. Despite the few attempts to grow, none of them increased above $0.31 as for a while this week, the price action was limited to $0.30 level with few exceptions of shallow surge above $0.30 a few days ago. The XRP/USD pair is trading at $0.2992 held below $0.30 as the growing bullish momentum suggested that XRP could continue to scale levels towards the critical resistance of $0.32.

Ripple’s over-the-counter sales of XRP made a staggering rise of over 1760% in Q2 2020 and many investors seemed concerned about the huge increase in the total number of circulating tokens. The spike in the selling pressure behind XRP could see it pullback towards $0.28 or even $0.24 as Ripple revealed that it ramped up the XRP sales last quarter which could lead to a major correction based on the different fundamental metrics.

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