Ripple CEO Claims Swell Event was not Intended to Compete with Swift-backed Sibos Event

Ripple has hosted a parallel event to the one organized by Swift (Ripple’s competitor) in Toronto last month. Brad Garlinghouse, Ripple’s CEO, has said that the event named Swell was not intended to compete with Sibos Event hosted by Swift.

Swell event was designed to attract payment experts in order to debate different situations regarding Blockchain implementations. “Swell is attracting a roster of payment experts and industry luminaries to discuss trends, success stories of blockchain implementations and real world blockchain use cases to meet changing customer demands for global payments,” reads Ripple’s webpage.

The media described Swell as a “Sibos-killer” and an aggressive hijack to Sibos event. Ripple has commented about this situation saying that the intention was not to attract Swift’s customers. Swift is one of the most used payment settlement systems around the world. More than 11,000 financial institutions in over 200 countries use the Swift network and in 2016 it sent more than 6.5 billion messages. This last number means an increase around 70% in traffic.

“Companies should feel threatened if they are not solving a customers’ problems. If you are evolving with the marketplace and solving a customers’ problems and helping them be successful, why would you feel threatened? If you are resisting change and not acknowledging how you are limiting the success of your customer, then you should feel threatened,” said Mr. Garlinghouse.

For Ripple, as long as a company is solving customers’ problems, they shouldn’t feel threatened for an event held at the same time. The Sibos event is a banking and financial conference organized by Swift in different cities around the world. The main purpose of this conference is to hear different exhibitors and experts in the fin-tech and banking field and integrate them with innovation, risk management and financial services.

Ripple’s event hosts between 500 and 600 people. Sibos event, is a bigger one; it hosts around 10,000 people and it is an international event covered by different media outlets. In addition to it, Garlinghouse told GTR that Ripple’s Swell event could complement Sibos one. Sibos does not focus in Blockchain technology and Swell could give new and fresh ideas to the fin-tech industry.

Ripple Will be Added to Goldmoney.com and Huobi Pro

In other news, Ripple’s CEO has also announced that Ripple will be added to the third largest exchange in China, Huobi Pro.

“Holiday, schmoliday! Team Ripple is absolutely committed to building XRP liquidity – and in that context… Very excited to share that @HUOBI_Pro (3rd largest exchange in China) is listing XRP / BTC tomorrow,” wrote Brad Gralinghouse in Twitter.

This is not the only platform adding XRP to their offerings. Roy Sebag, CEO of Goldmoney.com says that they will add Ripple to their platform. According to the company 1.4 million clients are registered and manage an amount equivalent to $1.4 billion dollars in combined assets.

These are really good news for the Ripple community. Ripple market capitalization is 6 times the amount of assets managed by the company. If some of these investors starts to trade with Ripple, the market could react positively and push Ripple price up.

At the moment of writing the article, Ripple is being traded at $0.2420, 3.19 percent up form 24 hours ago. Ripple was being traded at $0.03, it spiked up to $0.43 in May and since then it keeps stable around $0.2

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