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Investment Bank Report Identifies Ripple as a Major Competitor to SWIFT

Author: Content Editor
The global investment bank Houlihan Lokey released a report highlighting innovations in cross-border payments, identifying Ripple as a significant competitor to SWIFT. The report emphasizes the potential for disruption in the cross-border payments market, which currently sees about $190 trillion in transactions annually. Traditional banking systems rely on intermediaries, leading to higher costs and complexity. Ripple, leveraging blockchain technology, offers faster settlement times, lower fees, and enhanced security compared to traditional systems. The report also mentions other fintech companies, including Airwallex, Nium, and Wise, as driving growth in the cross-border payments space. Despite SWIFT's dominant position, Ripple and other fintechs are gaining ground and providing alternative solutions to businesses and individuals seeking more efficient and affordable options. With the expected growth of the global B2B payments market, Ripple's position is likely to be even more significant. In the remittance space, Ripple's partnerships with companies like Tranglo have already had transformative effects.

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