XRP Update: Morgan Stanley Identifies Ripple as a Leading Player in Worldwide Payment Networks.

A recent study has cited Morgan Stanley’s comments on Ripple’s contribution to shortening the settlement time in international payments while enhancing transaction speed. JPMorgan has previously noted that Ripple, along with SWIFT and the CLS Group, is effectively tackling the issues faced in cross-border transactions. Morgan Stanley, a major player in investment banking, has recognized Ripple (XRP) and its initiatives in transforming global payments, referring to it as an alternative to SWIFT. As per reports, Morgan’s remarks regarding XRP were included in a document named “Blockchain in Banking: Disruptive Threat or Tool?” In examining a section of Boston University’s academic article concerning the Review of Banking & Financial Law, provided by crypto researcher SMQKE, it was discovered that banks implementing Ripple could reduce their overall processing expenses by approximately 60% for a payment of $500. The document referenced a statement from Morgan Stanley, emphasizing that “implementing a payment system similar to Ripple could greatly decrease settlement times, minimize fraud risk, and accelerate transaction speeds.” In addition to Morgan Stanley, Ripple has received significant attention in the research reports of major firms, including a recent analysis from JPMorgan. JPMorgan thinks that private organizations such as Ripple, SWIFT, and the CLS Group have undertaken impressive initiatives and innovative steps to tackle issues related to cross-border payments, particularly in terms of settlement and delays. The bank also recognized a yearly loss of $120 billion due to inefficiencies in cross-border transactions. At the same time, it is reported that multinational companies transfer approximately $23.5 trillion each year. JPMorgan states that Ripple employs a real-time payment system for cross-border transactions that incorporates XRP for the purposes of settlement.