Ripple wants to break up the old financial system with new forces

Ripple wants nothing less than to put the XRP stamp on the global financial system and is putting together a new team.

Ripple is maturing into a hub in global interbank payments.

But FinTech is banking on growth and has a blog entry for it a rebranding announced:

To accelerate our efforts, we’re appointing new leaders across the organization, expanding our global engineering team to support our growing number of customers in more locations, and refreshing our brand to better reflect our obsession with streamlining today’s financial system to become.

Ripple’s strongest weapon in the international battle for market share is RippleNet. Over 200 financial institutions in 40 countries are already connected to the payment network. And there are more and more.

With RippleNet, financial institutions can optionally access pre-financed liquidity pools ( On-Demand Liquidity, ODL ) and transfer XRP across the globe in almost real time. The RippleNet also eliminates transaction fees; Ultimately, money should move through the network at the same speed as data.

The Ripplenet is the answer to a changing payment infrastructure. Although the world is growing together due to globalization and digitalization is affecting more and more industries, not least due to the pandemic, “ financial services and the exchange of values ​​remain unreliable, slow and expensive“.

Ripple steps up to change this status quo and to enable “ payments for everyone and everywhere “ .

Ripple wants to break new ground

Under the leadership of Monica Long, General Manager at Ripple, FinTech wants to put the network on a new footing. The strategy reads like a campaign announcement to the representatives of the old financial system:

To enable a world where values ​​move as easily as information does today – a concept we refer to as the Internet of Value – we need to understand the legacy systems and the basic infrastructure they run on. rebuild.

To this end, the Ripple Impact welfare department, formerly Ripple for Good, works with various organizations such as the University Blockchain Research Initiative (UBRI). According to the blog post, “ research, education and philanthropy should create more economic fairness and opportunities for all ”.

The company has made the financial inclusion of disadvantaged population groups a priority:

This opportunity improves today’s broken financial system for the larger purpose of financially strengthening the lives of millions of people around the world who suffer from the banking system by removing the barriers to economic equality and technical innovation.

As noble as the motifs may sound, Ripple does not act selflessly. Because the integration into the Ripple payment network is a further step on the way to help XRP become a global crypto reserve currency.