Ripple Partner and Wells Fargo Collaborating on SWIFT Replacement
Ripple Partner and Wells Fargo Collaborating on SWIFT Replacement
March 16, 2022 John
Ripple partner company, The Clearing House, is working with Wells Fargo to challenge the dominance of SWIFT with a new instantaneous payment system
The Clearing House, a known Ripple partner company, is working with Wells Fargo on a cross-border payments system, “specifically designed to support digital commerce,” that could potentially replace SWIFT.
The system, known as Real Time Payments (RTP) Service, would facilitate the real-time transfer of digital currency between eligible accounts at Wells Fargo. A new Wells Fargo online service agreement has been shared online that details how this project could directly challenge SWIFT’s dominance:
Esoteric XRP 🇺🇸 @Naturalmed777
Huge #XRP News! Earlier I posted a video about a guy who revealed that Wells Fargo has been training on a #SWIFT replacement. Now, I got a online service agreement update from WF, talking about Real Time Payments by Clearing House, a #Ripple partner! LINK
The Clearing House has stated that RTP Service is specifically designed “for the digital, on-the-go way we live and work today.” In particular, unlike rival payment systems, the RTP system includes real-time postings, immediate confirmation and a secure two-way messaging service. Transfers would be immediate and final, offering maximum control to the account holder, just “like cash.”
To continue reading, please go to the original article here: LINK