XRP Inches Closer to Rivaling SWIFT with FedNow Integration
Ripple's XRP has made significant strides in its pursuit of competing with globally recognized payment systems like SWIFT.
The altcoin is now enabled for FedNow payments via Volante Technologies' Ripple integration, a move that could potentially unlock instant FedNow payments for major U.S. banks.
Volante serves as middleware for these institutions, allowing them to settle through XRP on the same rails used by the Federal Reserve for 24/7 real-time transfers.
However, it is essential to note that there is currently no official confirmation from the Federal Reserve regarding XRP's involvement in FedNow payments.
The market has responded positively to the speculation surrounding a potential connection between XRP and FedNow, with demand for XRP intensifying in the spot market and a netflow drop to -$12.9 million marking the third consecutive day.