Financial institute SWIFT has no plans for a partnership with fintech company Ripple. They said this after questions from Finance Magnates. Rumours about SWIFT integrating the Ripple technology in its network, were doing rounds on the internet. This causes the price of XRP to go up, as it would make the crypto technology available to 4000 banks worldwide.
As a result of the rumours Ripple’s XRP token momentarily overtook the second position in the cryptocurrency charts. For a brief moment on Tuesday XRP had a bigger market cap than Ethereum.
Ripple has been making headlines on several occasions this year. After an immense decline the XRP coin boosted in value in the past couple of months. On top of that there have been major partnerships announced, including ones with the Chinese payment provider LianLian International and the American PNC Bank. At the same time Western Union is testing xRapid for its money transfers, but there’s no partnership there just yet.