Swift is shitting their pants - The Ripple Effect !

The Society for Worldwide Interbank Financial Telecommunication (SWIFT) may finally have some competition and that competitions name is Ripple.

There are a number of major global banks signing on with Ripple Labs Inc. to found a new group that will support a new global transfer system based on Ripple’s blockchain platform.

The founding members ( banks ) of this new group which is called GPSG ( Global Payments Steering Group ) are :

1. Bank of America Merrill Lynch
2. Santander
3. Standard Chartered
4. Westpac Banking Corporation
5. UniCredit
6. Royal Bank of Canada

The intentions of this group is to oversee the creation and maintenance of Ripple’s global payment transaction rules. They will formalize standards for activity using Ripple and other actions to support the implementation of Ripple’s payment capabilities.

Ripple has also secured partnerships with IDT Corporations and Mercury FX this month ( Jan. 2018 ) and recently Money Gram announced their trial run with the tech as well.

Read more about those partnerships here -- >> https://steemit.com/ripple/@rentmoney/ripple-has-added-two-new-partners-xrapid

-- Rent Money