- RippleNet is a platform operated by fintech organization Ripple, enabling folks to exchange as well as trade cripto assets or cross-border payments.
- It surfaced as a direct contender to Society for Worldwide Interbank Financial Telecommunications or SWIFT banking network.
- A CBDC report by Arab Regional Fintech Group was issued yesterday, serving as a “Practical Guide” for Arab central banks for better understanding of booming cripto piaţă.
SWIFT vs. Ripple
RippleNet is associated with Ripple, a fintech organization allowing cross-border payments as well as a gateway for exchanging cripto assets. It came out as a direct contender to SWIFT or Society for Worldwide Interbank Financial Telecommunication.
A report was generated by Arab Regional Fintech Group for Arab central banks to serve as a “Practical Guide,” offering an improved understanding regarding nuances of flourishing cryptocurrency market. A noteworthy point in this report was that, RippleNet was addressed as a natural alternative to SWIFT, and not just a single, but a couple of times.
Source: https://www.thecoinrepublic.com/2022/03/19/ripplenet-a-proxy-to-swift/